R-Calif. Rep. Jay Obernolte joined Maria in the “morning” to analyse Israeli strikes within Iran and discuss past warnings from President Donald Trump.
Oil prices It spiked on Friday after the Israeli Defence Force (IDF) began a sweeping of Iran’s nuclear facilities and military leaders.
The U.S. West Texas intermediate price rose about 6% on Friday to $72 per barrel. Escalating tension It could disrupt Iran’s energy supply between Israel and Iran. Global benchmark Brent crude rose 10%, reaching its highest level since January. As of noon, the price of the Brent was around $73.50 per barrel.
President Andy Lipow Oil Associates said Iran is particularly concerned that Iran will retaliate by attacking Israeli or American targets, leading to major military escalations and potential destruction of oil supply.
Trump administration opens to mine and excavate 13 million acres of Alaska acres
Smoke will rise from a location that targeted the waves of Israeli strikes in Tehran, Iran, early in the morning of June 13, 2025. (SAN/Middle East Images/AFP via Getty Images/Getty Images)
“Iran may believe it Lipow said that the increase in OPEC+ oil supply, which is far more than the expected market in the last three months, is designed to offset the losses in Iran’s oil exports.
The mid-range price in West Texas in the US rose about 6% on Friday to $72 per barrel. (Reuters/Todd Colol/Reuters)
President Trump on growing tensions with Iran
“Phone Flynn, senior energy analyst at Price Futures Group, told Fox Business that prices could not be out of control because there is no report of damage to petroleum or petroleum infrastructure.”Past threats from Iran It is likely that the Strait of Hormuz will be closed. ”
The rescuers are working at the site of the damaged building in the aftermath of the Israeli strike held in Tehran, Iran on June 13, 2025. (Reuters)
“It’s probably pretty clear that they don’t have an army that has the ability to do that. That’s especially true after some of the top leaders of Iran’s revolutionary security guards were killed,” said Flynn, who is also a contributor to the Fox Business Network.
In these circumstances, Flynn says prices usually “overreact first” before they cool down.
Click here to get your Fox business on the go
“This will be interesting to see how this will revive in the coming days, but this probably means that oil prices will be priced more equitably as we move forward,” he added.
