Crude oil prices spiked by over $10 on the initial news that Israel was bombing Iran’s nuclear facilities and targeting its key military leaders. The price surge should be expected, given that Iran accounts for slightly over 3% of global production and, more importantly, holds 12% of the world’s proven crude oil reserves.

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.

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,

Oil prices retreated on Monday as fears of a wider Middle East conflict eased even as Israel and Iran pounded each other with missiles for a fourth day and threatened

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

Oil prices extended gains Monday as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks, stoking fears of a lengthy conflict that could reignite inflation.

Israel launched large-scale strikes against Iran on Friday, saying it had attacked nuclear facilities and missile factories and killed a swathe of military commanders in what could be a prolonged operation to prevent Tehran building an atomic weapon.

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