Oil prices surge 10%, U.S. stock futures fall as Israel strikes Iran

Futures Movers

Last Updated: June 12, 2025 at 11:23 p.m. ET
First Published: June 12, 2025 at 8:24 p.m. ET

An Israeli F-16 jet takes off from a base in southern Israel in 2014. Photo: Getty Images

Oil futures shot higher and U.S. stock-market futures sank Thursday evening as Israel said it attacked sites in Iran, raising new fears of an all-out conflict in the Middle East.

“We struck at the heart of Iran’s nuclear weaponization program,” Israeli Prime Minister Benjamin Netanyahu said in a statement. “We targeted Iran’s leading nuclear scientists, working on the Iranian bomb. We also struck at the heart of Iran’s ballistic missile program.” He added that the operation “will continue for as many days as it takes to remove this threat.”