Oil firm as intensifying Israel-Iran conflict stokes supply disruption fears | 15 June 2025 | Oil prices climbed on Monday, extending Friday’s rally, as renewed strikes by Israel and Iran over the weekend increased concerns that the battle could widen across the region and significantly disrupt oil exports from the Middle East. Brent crude futures rose $1.12, or 1.5%, to $75.35 a barrel by 0019 GMT, while U.S. West Texas Intermediate crude futures gained $1.10, or 1.5%, to $74.08… The latest developments have stoked concerns about disruptions to the Strait of Hormuz, a vital shipping passage. About a fifth of the world’s total oil consumption, or some 18 to 19 million barrels per day (bpd) of oil, condensate and fuel, passes through the Strait.