Overview

• After Israel’s June attacks on Iranian nuclear and energy sites, Brent crude and U.S. WTI futures spiked nearly 15% before easing to $74.93 and $73.87 per barrel respectively on June 16.
• German heating oil prices climbed to around €93 per 100 liters in June from €87 in May but remain below last year’s average.
• German retail fuel prices also edged up, with Super E10 averaging €1.749 and diesel €1.639 per liter as of June 15.
• Both Israel and Iran have struck oil and gas infrastructure, raising fears of prolonged supply disruptions that could push prices higher.
• President Donald Trump and EU Commission President Ursula von der Leyen have discussed potential strategic oil reserve releases to stabilize markets.