Tensions between the U.S. and Iran have been rising, but the big moves in gold and oil prices can help gauge just how serious the situation has become — and hint at what’s next for global financial markets.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

U.S.-China trade talks offered little detail, sparking caution among investors. U.S. bonds await inflation data. Treasury auction will gauge debt demand amid policy uncertainty. Stocks, particularly in America,

Israeli airstrikes on Iranian nuclear facilities immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying.

Fears that Israel may destroy Iranian oil facilities to deprive it of its main source of revenue have driven oil prices higher.

Oil benchmarks surged on Friday following a major Israeli military operation in Iran, sparking fears over potential disruptions to Middle Eastern

Oil prices have surged over 10% after Israel launched strikes on Iran, sparking fears of a wider Middle East conflict and major disruptions in oil supply routes like the Strait of Hormuz. Brent crude hit $72.