Oil Jumps as Iran’s Attacks on Israel Put Ceasefire at Risk

Bloomberg.com · last updated June 7, 2026 – 4:18 PM

Oil rebounded after Iran fired several rounds of missiles toward Israel, threatening a fragile ceasefire as talks to end the war falter.

Brent climbed as much as 3.6% to $96.47 a barrel, and West Texas Intermediate was near $94. The attacks were a warning to Israel to “cease their hostile actions” in Lebanon, an Iranian military adviser told the semi-official Iranian Students’ News Agency. The Israeli military intercepted all the missiles.

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