Overview

• The United States struck Iran’s Fordow, Natanz and Isfahan nuclear facilities on June 22, marking its first direct military action in the Iran–Israel conflict
• Brent crude jumped as much as 5.7% to top $81 per barrel before easing to around $78, while West Texas Intermediate gained over 2%, reflecting heightened geopolitical risk
• Iran’s parliament voted to close the Strait of Hormuz—through which about a fifth of global crude passes—but final authority rests with Supreme Leader Ayatollah Ali Khamenei
• Secretary of State Marco Rubio urged China to pressure Iran to keep the strategic waterway open to prevent a severe oil supply disruption
• Analysts warn that any partial or full shutdown of Hormuz could drive oil prices toward triple digits and deepen global economic pressures