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Oil Price Gains After Report Israel Is Preparing to Strike Iran [1]

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Date: 2025-05

Brent crude, the global standard, was up 0.9% at $65.95 a barrel. West Texas Intermediate crude gained 1% to $62.63 a barrel. Prices were paring their gains, after initially rising as much as 3%.

“WTI fell back below $63 per barrel, still higher on the day, but once again trading around the 50-day moving average – an area which acted as resistance late last week. Iran is the third-largest producer in OPEC, so an Israeli attack could lead to a decline in crude supply, despite continued sanctions on Tehran,” wrote David Morrison, an analyst at Trade Nation.

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[1] Url: https://www.barrons.com/livecoverage/stock-market-news-today-052125/card/oil-price-gains-after-report-israel-is-preparing-to-strike-iran-xcMECPvUEWR0gIGZKj65

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