Overview

• US B-2 stealth bombers struck Fordow, Natanz and Esfahan nuclear facilities in a “very successful” operation announced by President Trump on June 21.
• Iran’s leaders have warned of reprisals against regional oil infrastructure or a blockade of the Strait of Hormuz if further strikes occur.
• Brent crude futures have climbed roughly 18 percent since June 13 and are poised for additional gains on fears of supply disruptions.
• Analysts warn that any disruption of exports through the Strait of Hormuz could push oil prices toward $120–$130 per barrel and intensify global inflationary pressures.
• OPEC members, led by Saudi Arabia, hold over 3 million barrels per day of spare capacity that could help cushion potential supply shocks.