News about prices • Iran

Oil prices on Monday jumped to their highest since January after Washington joined Israel over the weekend in attacking Iran's nuclear facilities. Prediction markets, despite limited liquidity, reflect a 52% probability of Iran closing the strait this year, Goldman said, citing data from Polymarket.

Iran said Monday that it launched an attack on the U.S. Al Udeid Air Base in Qatar. Iran, a major producer of crude, controls the northern side of the Strait of Hormuz, which is used by ships carrying roughly 20% of the world's daily supply of oil.

Israel views Iran as an existential threat on account of Tehran's rhetoric, its support for proxy forces in the region, and its arming and financing of Palestinian groups such as Hamas. In some cases, proxy groups evolved into political parties, a transition that was both encouraged and nurtured by Iran.