TradingKey – Crude oil prices jumped over 2% on Thursday, June 19, as geopolitical tensions in the Middle East intensified. U.S. crude (USOIL) surged past $74.28, reflecting heightened market anxiety.
Crude Oil Price Chart – Source: TradingView.
The spike followed remarks from Israel’s Defense Minister, who accused Iran’s Supreme Leader Ayatollah Khamenei of seeking Israel’s destruction, stating that eliminating Khamenei is one of the objectives of Israel’s current military campaign.
Meanwhile, ABC News reported that U.S. President Donald Trump is considering a strike on Iran’s Fordow nuclear facility. Sources previously indicated that Trump had approved a military plan but held off on execution, hoping Iran would abandon its nuclear ambitions. With Iran showing no signs of retreat, the situation has grown more volatile.
As a result, safe-haven assets like gold (XAUUSD) and energy commodities such as oil are likely to remain supported amid rising geopolitical risk.
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