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Oil prices seen to spike after US strikes on Iran

22 June 2025
in Business
Reading Time: 5 mins read
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Oil prices seen to spike after US strikes on Iran
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By Sheldeen Joy Talavera and Aubrey Rose A. Inosante, Reporters

GLOBAL OIL PRICES are expected to soar amid a widening conflict in the Middle East after the US attacked Iranian nuclear sites.

“World oil prices could rise further because of the new development. The potential increase in premium and freight, which are projected to rise because of the expanded scope of hostilities, could be factored in the expected movement on domestic prices next week,” Jetti Petroleum, Inc. President Leo P. Bellas said in a Viber message.

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