Iran’s Supreme Leader Ayatollah Ali Khamenei speaks during a meeting in Tehran, Iran, May 20, 2025. Office of the Iranian Supreme Leader.
Office Of The Iranian Supreme Le | Via Reuters
Crude oil futures jumped more than 7% Thursday evening after Israel launched airstrikes against Iran without U.S. support.
U.S. West Texas Intermediate rose $5.22, or 7.67%, to $73.26 per barrel, while global benchmark Brent jumped $5.01, or 7.02%, to $74.23 per barrel.
Israel launched a pre-emptive strike against Iran, Defense Minister Israel Katz said in a statement. The Israeli defense minister declared a special state of emergency in anticipation of Iran retaliating with missile and drone strikes.
U.S. Secretary of State Marco Rubio made clear that Israel had taken “unilateral action against Iran” without U.S. support. Rubio warned Iran against targeting U.S. interests.
“We are not involved in strikes against Iran and our top priority is protecting American forces in the region,” Rubio said in a statement. “Israel advised us that they believe this action was necessary for its self-defense.”
This is a developing story. Please check back for updates.
