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Tensions in the Middle East shake global markets, gold and oil prices rise sharply

2025-06-13 08:35:04Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Tensions in the Middle East shake global markets, gold and oil prices rise
Wall Street

A large-scale Israeli airstrike on Iran has sent shockwaves through global markets, sending gold and oil prices soaring and US stocks plunging. Tensions between the two countries have escalated sharply, as fears of a wider conflict in the Middle East have grown.

Israel strikes "dozens" of Iranian targets

On Friday morning, Israel carried out a preemptive airstrike on Iran, hitting “dozens” of military and nuclear targets. Israeli Defense Minister Israel Katz warned that an immediate counterattack from Iran in the form of missiles and drones that could hit Israeli civilians was expected.

Sirens sounded across Israel, while explosions shook Tehran. Iranian air defenses were fully activated, according to state media. Two US officials told Reuters that the attack was carried out without any US involvement, while Secretary of State Marco Rubio confirmed this, calling the action an act of self-defense by Israel.

Markets react: Gold and oil rise

Following the news of the attack, the price of gold in international markets rose by 1.5%, reaching $3,436.97 per ounce.

This increase came after a wave of uncertainty that had begun earlier in the week due to US-China trade tensions, but the escalation of the Israel-Iran conflict appears to have boosted demand for safe havens like gold.

Meanwhile, the oil market also saw a sharp jump. Brent crude futures, which expire in July, rose 8.5% to $75.15 a barrel — the highest level since early February. West Texas Intermediate (WTI) crude rose 8.4% to $73.68 a barrel. The rise reflects concerns about global supply disruptions if the conflict escalates further.

US markets in decline

News of the attacks also had an impact on US stock markets. The S&P 500 fell 1.5%, while the Nasdaq 100 fell 1.7%. The Dow Jones Industrial Average fell 1.3%, reflecting investor concerns about the geopolitical and economic consequences of the conflict.

Despite statements that the US was not involved in the attack on Iran, the White House had previously warned that it could take military action if nuclear negotiations with Tehran fail. Meanwhile, Iran has reiterated its commitment to respond to any foreign attack.


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