Business

Strait of Hormuz in the Crosshairs of Israel–Iran Conflict—Will Oil Hit $100?

‘This is a pivotal moment for the petroleum market trend,’ says one market analyst.
Strait of Hormuz in the Crosshairs of Israel–Iran Conflict—Will Oil Hit $100?
A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, on Feb. 18, 2025. Eli Hartman/Reuters
Andrew Moran
|Updated:
0:00

Crude oil prices have retreated since President Donald Trump delayed a decision on helping Israel destroy Iran’s nuclear program.

At a June 19 press briefing, White House press secretary Karoline Leavitt, reading a statement from the president, said a decision would be made within two weeks.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."