Oil Prices Rise by 2% Amid US Strikes on Iran – Could Hit $110 If Hormuz Is Closed

Oil prices are rising moderately today, up nearly 2%, following the strikes conducted by the US against Iran over the weekend (June 21-22, 2025). The price of oil has reached $75.27 per barrel, compared to $75 on the previous Friday, June 20, 2025. The relatively mild increase is attributed to traders expecting a response from Iran, which has not yet occurred. Meanwhile, the dollar is showing upward trends, with a Bloomberg dollar index rising by 0.2%. Contracts for the S&P 500 fell about 0.3%, and an Asian stock index dropped to its lowest level since early June. Yields on government bonds have increased. Oil remains in focus as any disruption through the Strait of Hormuz, a critical artery for global crude and natural gas, could raise energy prices. Despite threats from Iran’s Foreign Minister Abbas Araghchi, there are no signs of actual supply disruptions so far. Analysts suggest that unless tensions escalate further, markets may remain calm. However, prolonged conflict could significantly impact risk sentiment. Goldman Sachs Group predicts Brent could spike to $110 per barrel if oil flows through the Strait of Hormuz were halved for a month and remained 10% lower for another 11 months. Continued military actions could lead to higher US fiscal spending, affecting bond yields and stock prices.