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Oil Prices Soar After Israel Attacks Iran's Nuclear Facilities - Business - Nairaland 5wz63

Oil Prices Soar After Israel Attacks Iran's Nuclear Facilities (9169 Views)

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MaiDeribe: 2:41am On Jun 13
Israel has launched a series of coordinated airstrikes on Iran, targeting nuclear facilities in what it describes as a decisive move to prevent the Islamic Republic from becoming a nuclear power. The Israeli military announced the operation on its official Telegram channel, stating that "dozens of fighter jets struck Iranian nuclear complexes in various parts of the country."

The strikes immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying. Brent crude surged by more than 7% in early Friday trading, as traders began pricing in the risk of major supply disruptions from a region that s for roughly one-third of the world’s oil production. Oil is now on course for its largest weekly gain since 2022. Gold prices also rallied as investors moved into safe-haven assets amid the mounting geopolitical risk.

According to Israeli sources, the goal of the airstrikes is to disrupt Iran's nuclear program, viewed by Israel as an existential threat. Prime Minister Benjamin Netanyahu convened his cabinet following the strikes, calling the action “a defining moment in Israel's history.” Israel has closed its airspace and placed its military on high alert, saying it is fully prepared for a potential Iranian retaliation.

According to Israel's Prime Minister Netanyahu, the operation, dubbed Rising Lion, targets he heart of Iran’s nuclear enrichment program. In his declaration, Prime Minister Netanyahu stated: “We struck at the heart of Iran’s nuclear weaponization program. We targeted Iran’s main enrichment facility in Natanz. We targeted Iran’s leading nuclear scientists working on the nuclear bomb. We also struck at Iran’s ballistic missile program.” He noted also that the operation "could last for as many days as it takes", adding that his government will not allow "the world's most dangerous regime to get the world's most dangerous weapons".

Iran has yet to issue an official response, though state media reported several explosions in the capital, Tehran. There are no confirmed casualties or assessments of damage at this time.

U.S. Secretary of State Marco Rubio was quick to confirm that the United States was not involved in the operation, noting that Israel described the attack as vital for its national defense.

With tensions escalating, oil markets remain on edge. Investment banks like JPMorgan warn that in a worst-case scenario, prices could surge to $120 per barrel if military conflict closes the strategically vital Strait of Hormuz.

Source: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Soar-After-Israel-Attacks-Irans-Nuclear-Facilities.html

1 Like

graciouness(m): 2:52am On Jun 13
Israel should please thread with caution to avoid the breaking out of a full blown war and crisis in the Middle East.

10 Likes 2 Shares

Ttalk: 2:52am On Jun 13
More rally for dollar. Oil price rising that means a win for Nigeria.

However the price of refine oil such as PMS is likely to rise

11 Likes 3 Shares

bcomputer101: 3:09am On Jun 13
graciouness:
Israel should please thread with caution to avoid the breaking out of a full blown war and crisis in the Middle East.

A whole Israel to thread with caution?
Mr man, who are you?
You need to be very careful. You hear?
Once you become a threat to Israel, you will be crushed. Israel won't wait till when Iran(the king of terrorism) will attack them just like Hamas terrorists?

I love this punchline (History taught us: when faced with threats to destroy us, we must never bow our heads. Freedom belongs to those willing to fight for it. I warn anyone who tries to challenge us that they will pay a heavy price.)


Iran don go price market wey big them.
They gonna learn in a hard way

46 Likes 9 Shares

Fuckyoumod: 3:46am On Jun 13
graciouness:
Israel should please thread with caution to avoid the breaking out of a full blown war and crisis in the Middle East.
what's you business with Mideast? Are you from there?

Oil prices just got up, you should be thankful to Israel for helping Nigeria make more dollars from oil.

Thank you Israel, long live Israel!

26 Likes 7 Shares

LordBiden(m): 4:17am On Jun 13
Where is my iran?

Where is my beloved ayatollah?
Time to on the shakabula? grin

As isreal don price market hahahaha.

3 Likes

IkeOnyia: 4:31am On Jun 13
Then expect Nigeria's shrinking revenue to rebound.

2 Likes

sleek214(m): 5:10am On Jun 13
Nice one from Israel, more to come. Iran must not have a Nuclear weapon

18 Likes 4 Shares

RandomFellow: 5:53am On Jun 13
Israel and Iran, 2 cowards... But it seems Israel don't want to be referred to as cowards anymore. Let's see who blinks first. Israel has drawn first blood, let's see if Iran can engage, or continue using proxies. Make all of them getat!

2 Likes 1 Share

dalongjnr: 6:01am On Jun 13
Good one,Israel.
Never ceased to completely destroy a terror group.

6 Likes 2 Shares

Nahunger(m): 7:03am On Jun 13
God bless Israel.
No be Cho Cho Cho oya Iran send the 20k ballistic missiles we dey wait 😅😅😅

5 Likes

Kingpele(m): 7:04am On Jun 13
Wow Iran is busy cho cho cho like agbadorians but now the heat is coming up closer

8 Likes

tctrills: 7:05am On Jun 13
graciouness:
Israel should please thread with caution to avoid the breaking out of a full blown war and crisis in the Middle East.
The only goal is to prevent Iran from having nuclear weapons. They should do everything in their powers to stop Iran.

7 Likes 1 Share

autoez: 7:06am On Jun 13
I understand Israel concerns but i believe we should strive for a world where security is achieved through cooperation, not war. Let’s hope for a swift resolution that prioritizes peace and stability for everyone involved.

2 Likes

1Alex: 7:06am On Jun 13
Here’s how this sharp oil-price spike impacts Nigeria:

1. Boosted Government Revenue & Budget Relief

With Brent crude jumping 8–12%, global oil is now over $75–78/barrel .

Nigeria’s oil revenue (≈80% of government earnings) will receive a healthy uptick .

The national budget benchmark (~$75/barrel) has been sured—delivering much-needed fiscal headroom .


2. Stronger Naira & Foreign Exchange Relief

Oil proceeds buoy Nigeria’s FX reserves, easing pressure on the naira.

Already, the currency outlook has improved following the crude rally .

This helps reduce import costs, tame inflation, and may soften fuel-price hikes.


3. Consumer Impact: Higher Domestic Fuel & Diesel Prices

Higher global crude indirectly raises PMS and diesel costs, inflating transportation and living expenses.

Price hikes in Nigeria tend to lag behind global rises, but are certain to filter through .

4. Macro Balance: A Double-Edged Sword

Pro Con

Increased foreign exchange & fiscal buffers Rising inflation due to higher pump prices
Improved oil company margins Pressure on consumers & logistics
Possibility of currency stability Budget may need to curb subsidies

Bottom Line

Short-term wins for government revenue and the naira, but Nigerian consumers and businesses face steeper fuel bills. Policy decisions—like how much of the windfall goes to subsidies vs. savings—will be key in shaping the next few months.

5 Likes

tctrills: 7:07am On Jun 13
Ttalk:
More rally for dollar. Oil price rising that means a win for Nigeria.

However the price of refine oil such as PMS is likely to rise
That's a big loss for Nigerians but maybe a win for the government.

3 Likes

SocialFinance: 7:09am On Jun 13
Ah this is downside of this war for Nigerian masses.

Increase in pump price is imminent

Meanwhile the government will enjoy increase foreign earnings from our crude

Loss-win for Nigeria

1 Like

Emeskhalifa(m): 7:10am On Jun 13
sleek214:
Nice one from Israel, more to come. Iran must not have a Nuclear weapon

Why does the world even need any nuclear at first place?

Why can't all countries with nuclear destroy their nuclear?

5 Likes

muyico(m): 7:16am On Jun 13
So they knw Sey hardship dey! Omokri come defend this?
Greatness09: 7:17am On Jun 13
Fuckyoumod:
what's you business with Mideast? Are you from there?

Oil prices just got up, you should be thankful to Israel for helping Nigeria make more dollars from oil.

Thank you Israel, long live Israel!

lol funny even if oil price should go x100 na still greedy politicians go cash out and share among themselves

2 Likes

factwriter(m): 7:18am On Jun 13
Ttalk:
More rally for dollar. Oil price rising that means a win for Nigeria.

However the price of refine oil such as PMS is likely to rise


Pipe Dream grin

What happened to the (1991) $22 Billion Dollar Gulf War "Oil Wind Fall" during President IBB? How did it translate to betterment of the Nigerian masses?

Continue to live in delusion.

Almost twenty five years after the devastating gulf war, middle East Arab countries continue to live in better economy than the average West African nation of presence.

Rise or surge in global oil price has to meaningful economic translation for the average Nigerians, only those in the corridors of power benefits from such.

1 Like

ALISMILE(m): 7:19am On Jun 13
Let’s hope it doesn’t skyrocket

Make I quickly go fill my tank

I know say Dangote go give instructions today
runningriot: 7:19am On Jun 13
Listen and understand the last audacious lucid sentence by America "Let me be clear, Iran should not target America interests" believe you me already Trump is a mad chain dog should Iran target America interests and assets" Iran will be history in a minute. Because Trump is not only unpredictable but highly intolerable. If then Israel is using America military gadgets to obliterate and liquidate Iran what then America has in her arsenal to do so?
ShobayoEmma(m): 7:20am On Jun 13
Government benefits while Nigerian masses should prepare to pay more for fuel per litter.


This is not a good news for Nigerian masses because we have crop of bad leaders.



Tinubu, a bad man with good intentions

2 Likes 1 Share

fuckingAyaya(m): 7:22am On Jun 13
Israel no send anybody papa. US intelligence at play here,trump begged them but they called the bluff
phorget(m): 7:22am On Jun 13
autoez:
I understand Israel concerns but i believe we should strive for a world where security is achieved through cooperation, not war. Let’s hope for a swift resolution that prioritizes peace and stability for everyone involved.


Unfortunately we can't ever achieve the Utopian state we all desire, a state where peace would ever rain supreme. The world is too busy building war gears instead of building a good human relations, the war gears they are building is more expensive than building a good human relations but we rather prefer spending more on destruction than spending little on building.
dominique(f): 7:24am On Jun 13
Is(not)real with American backing have launched unprovoked attacks on Iraq, yeman, Syria and Palestine. Satanyahu will go to US congress and demand that America invade these countries, that's the only way peace can be brought to the middle east. In all these, they're always crying that it's Qatar sponsoring Hamas and the independent media speaking out against them. Why haven't they asked their slaves (America) to invade Qatar to bring "peace and stability" to the middle east? Shoe get size abi?

Ok Iran has nuclear weapons which they've declared and will not be allowed to use unless permissions are granted. Even Russia dares not bring out their nukes and use anyhow. Now what do we say about Isreal who also has nuclear weapons which was built for them by their servants but are refusing to declare. Who is the greater threat here? The one that declared their weapons or the ones that keeping them under wraps for whatever sinister reasons? But hey! let's keep celebrating, terrorists are being killed

Fun fact! The only country that has attacked America killing multiple people and America NEVER retaliated is Israel! You have to be a special type of slave to keep bending to the demands of a country who killed your people. If they were in Africa, I would have said jazz was involved.

4 Likes 1 Share

kpankpangolo: 7:26am On Jun 13
I will never understand how these conflicts fluctuate oil prices. I honestly don’t care since they benefit us.

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