World News
Crude Futures Surge After Israeli Strike on Iran
Friday June 13, 2025
Crude futures surged on Friday morning after an overnight strike by Israel on Iran.
Israel launched wide-ranging strikes on Iran overnight, killing the chief of Iran's Islamic Revolutionary Guards as well as targeting nuclear facilities. Iran's oil export facilities appear not to have been targeted.
Iran has already reportedly launched about 100 drones towards Israel in response, and further retaliation is likely.
Crude markets jumped sharply on Friday morning as traders reacted to the news. The ICE August Brent futures contract traded at $74.38/bl as of 7:00 AM GMT in London, up from $69.36/bl at Thursday's close, and traded as high as $78.45/bl earlier in the morning.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.50 | 7.00 | 628.50 | 8.50 |
| Rotterdam | 487.50 | 5.50 | 633.00 | 5.50 |
| Houston | 494.50 | 8.00 | 643.50 | 5.50 |
| Fujairah | 512.00 | 6.00 | 713.50 | 7.00 |
| Global 20 Ports Average | 541.50 | 4.00 | 723.00 | 2.50 |
| Global 4 Ports Average | 504.50 | 7.00 | 654.50 | 6.50 |
| Global Average Bunker Price | 578.50 | 5.50 | 768.00 | 3.50 |
Popular Now More
-
Jun 12Sekavin will handle the bunker volumes of YMN for all vessels at all ports worldwide, a company representative tells Ship & Bunker. -
Jun 13Q1's bunker volumes figures confirm the start of what looks to be a difficult year for shipping, with the rare development of demand being down at almost all major hubs. -
Jun 11The firm is set to launch bunkering services in Gibraltar from mid-June onwards.