Overview

• President Trump said the strikes on Fordow, Natanz and Esfahan were “very successful” and called for peace after his jets hit three Iranian nuclear sites on June 21.
• Brent crude futures climbed as much as 18% since June 10, settling near $77 per barrel over the weekend on fears of further supply shocks.
• Analysts caution that Iran’s response could include missile fire or a blockade of the Strait of Hormuz, which would risk sending oil toward $120 and intensifying global inflation.
• India may face a 0.5% GDP decline for every $10 rise in crude prices due to its reliance on imports, constraining policy options as energy costs mount.
• US lawmakers are split along party lines, with Republicans praising Trump’s decisive action and Democrats criticizing the strikes as a possible overreach of constitutional war powers.