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Al Jazeera
Al Jazeera
Business
John Power

Oil prices spike, US stocks fall on Israel-Iran crisis

Oil Iran United States Israel Donald Trump
Iranian flags fly in the atermath of an Israeli strike on the Sharan oil depot in Tehran on June 15, 2025 [Majid Asgaripour/West Asia News Agency via Reuters]

Oil prices have spiked over fears that the Israel-Iran crisis could spiral into a broader conflict involving the United States.

Brent North Sea crude and West Texas intermediate – the two most popular oil benchmarks – rose 4.4 percent and 4.3 percent, respectively, on Tuesday as US President Donald Trump demanded “unconditional surrender” from Tehran.

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