Oil prices fall over 6% after Iran attacks US military base

(Image: Getty)

Tue, 24 Jun 2025

Oil prices sank more than 6% on Monday (Tuesday NZT) after Iran attacked a US military base in neighbouring Qatar in retaliation for US weekend strikes on Iranian nuclear facilities.Near 18.15 GMT, futures for West Texas Intermediate fell 6.5% to US$69.96 (NZ$117.17) a barrel, while Brent oil futures dropped 6.4% to US$72.07 a barrel, its lowest level in 10 days.A US defence official said there were no known American casualties from the incident, which analysts said did not appear to be near key oil infrastructure.John Kilduff of Again Capital...

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