Commodities

Oil Edges Up in Turbulent Trade Amid Fears of War Escalation

WATCH: Oil steadied after rallying around 10%. Anthony di Paola reports.Source: Bloomberg

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By Julia Fanzeres and Catherine Cartier

June 17, 2025 at 10:02 PM UTC

Updated on

June 18, 2025 at 7:15 PM UTC

Oil edged higher after a volatile session as President Donald Trump fanned speculation that the US may join the Middle East conflict.

West Texas Intermediate rose 0.4% to settle above $75 a barrel, the highest closing price since January. Markets swung between gains and losses in a $3 range amid sharp reactions to developments in the Israel-Iran conflict.