Oil prices jumped sharply on Wednesday amid growing fears that Israel may launch airstrikes on Iranian nuclear sites. The surge follows fresh U.S. intelligence reports indicating Israel is preparing for possible military action, citing the movement of air munitions and extensive air force drills.
Brent crude climbed to $66.37 per barrel, while West Texas Intermediate rose to $62.56, overriding bearish signals like increased U.S. oil inventories and overproduction from Kazakhstan. The geopolitical risk has taken center stage for investors, pushing energy markets into volatility.
Also Read: US Intelligence Warns of Possible Israeli Strike on Iran Nuclear Sites
U.S.-Iran nuclear talks remain at a standstill. President Trump’s 60-day deadline to Iran has expired without progress, and both sides are stuck over uranium enrichment. Washington demands a complete halt, while Iran insists on its right to continue under international treaties.
Analysts suggest Israel sees a narrow window for action, with Iran’s defenses and economy weakened by sanctions and past Israeli strikes. However, any successful operation would likely require U.S. support, making Washington’s next move critical.
