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Fire and smoke rise in the sky after the Israeli attack at the Peto Shahisi landfill on June 15, 2025 in Tehran, Iran.
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Raw oil futures jumped over 3% on Sunday after Israel hit two natural gas in Iran, causing fears that the war would expand to the energy infrastructure and disrupt the supplies to the region.
Neither rude The oil rose by $ 2.72, or $ 3.7%, to $ 75.67 a barrel. Global indicator Brant increased by $ 3.67, or $ 4.94%, compared to $ 77.90 a barrel.
Israeli unmanned aerial vehicles hit South Pars in South Iran on Saturday, according to Iranian State media Reports. Strikes hit two natural gas processing facilities as per State mediaS
It is unclear how much damage was caused to the facilities. South Pars is one of the largest natural gas deposits in the world. Israel also hit a large oil depot near Tehran, sources said The Jerusalem postS
Meanwhile Iranian missiles have damaged a large oil refinery in Haifa, according to The times of IsraelS
Oil prices Close more than 7% higher On Friday, after Israel launched a wave of air strikes against Iran’s nuclear and ballistic missile programs, as well as with its senior military management.
It was the largest one-day move for the oil market since March 2022, after Russia launched its full-scale invasion of Ukraine. Raw oil in the US jumped 13% last week.
The war entered their third day with a small sign that Israel or Iran will retreat as they exchange rocket fire barges throughout the weekend.
Iran is considering excluding the Strait Hormuz, a senior commander said on Saturday.