Israeli attack on Iran sends oil prices higher

(Meghdad Madadi/Getty Images)

Oil prices jump after Israel’s attack on Iran

Crude jumped over 6% in early trading and is on track for its biggest gain in three years.

6/13/25 10:44AM

US crude oil prices jumped as much as 7% Friday following Israel’s attack on Iran’s nuclear sites and top military leadership, raising tensions and the prospect of an all-out war between the two regional powers.

Benchmark US West Texas Intermediate crude oil rose more than 7% in early trading, putting it on track for its biggest one-day gain since March 2022, during Russia’s invasion of Ukraine.

The Israeli attacks upended one of the dominant stock market dynamics this year: a lagging energy sector. Iran reportedly launched drone strikes in response.

Through Wednesday’s close, the S&P 500 energy sector — which includes integrated oil giants like Chevron and Exxon, as well as oil and gas drillers and field services companies — was up just 0.4% on the year, compared to the 2.8% gain for the broader index.

That underperformance is, in part, the outgrowth of low prices pushed by global cartel OPEC+, led by Saudi Arabia and Russia, which has been expanding production despite expectations that the global economy could slow.

But on Friday that gap with the overall index almost entirely closed as the market saw heavy losses in fuel-reliant industries like cruise line Carnival and airlines. Meanwhile, the energy sector jumped more than 1% in early trading.

Matt Phillips3h

IREN drops on convertible debt offering

Shares of crypto miner and AI compute provider IREN dropped after the Australia-based, US-listed company said late Tuesday that it would sell $875 million in convertible senior debt.

The announcement came late in the trading day and caused a sell-off in the aftermarket session that continued into Wednesday trading.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

IREN Announces Proposed Convertible Notes Offering

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

Jon Keegan3h

Tempus AI shares surge to all-time high

Shares of Tempus AI jumped over 7% Wednesday to reach an all-time high of $99.90. Shares of the AI medical diagnostics company are up over 191% for the year so far.

The company has recently announced a flurry of FDA clearances for its technologies. Most recently, on September 22, Tempus AI was granted FDA clearance for its Tempus xR IVD device, which is used to tailor cancer therapies.

Luke Kawa, David Crowther

POET Technologies is the newest low-price stock seeing record volumes and call activity thanks to retail traders

The optical communications tech company spiked Tuesday and is well on its way to another big gain on Wednesday.