Tidbits, Iran & Crude Oil, Crop Progress, ENSO, Export Inspections 6/24/25
- Wright team
- 4 days ago
- 5 min read
Tidbits
On June 23, crude oil prices plummeted over 6%, after Iran launched a missile attack on the U.S. military base at Al Udeid in Qatar in retaliation for U.S. strikes on Iranian nuclear sites over the weekend, which had initially pushed Brent to a five-month high. Iran’s attack, which Iran’s officials linked to the broader escalation following U.S. and Israeli actions, did not disrupt oil or gas tanker traffic through the Strait of Hormuz, and Qatar Energy reported no interruption to shipments. Iran also indicated it considers additional targets legitimate, but market analysts suggest the primary focus remains military retaliation rather than oil infrastructure, with no other Iranian attacks on U.S. bases detected besides Qatar.
Iran launched a missile strike on an American base in Qatar, notifying the Qatari authorities in advance in order to minimise the number of possible casualties. According to Reuters, Iran also informed the United States through diplomatic channels several hours before the strike on military facilities in Qatar.
U.S. President Donald Trump announced a complete ceasefire between Israel and Iran, potentially ending the war.
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