Global oil prices surged again on Monday as the military conflict between Israel and Iran escalated into a fourth consecutive day of missile exchanges, raising alarm over a prolonged crisis with far-reaching economic consequences. With both nations vowing further retaliation, markets reacted swiftly to the uncertainty rippling across the region.
Brent crude and U.S. West Texas Intermediate (WTI) futures extended their gains, reflecting mounting concerns over supply disruptions and renewed inflationary pressure. Gold prices also climbed, nearing record highs as investors turned to traditional safe-haven assets amid the turmoil.
READ ALSO: VIDEO: Devastation in Tel Aviv as Missile Strikes Cause Heavy Casualties
While global equity markets dipped, losses remained limited for now on cautious optimism that the conflict might remain geographically contained. However, analysts warned that any further escalation could ignite a broader regional war — with direct consequences for global inflation, energy markets, and economic stability.
Friday’s surprise Israeli airstrike on Iranian military and nuclear infrastructure — reportedly killing senior commanders and scientists — marked a turning point in the ongoing confrontation, sparking fears of a drawn-out conflict with global implications.
READ ALSO: VIDEO: Two More Drone-Laden Trucks Bound for Israel Discovered Inside Iran
Investors are also bracing for key central bank meetings this week, particularly from the U.S. Federal Reserve and the Bank of Japan. The outcomes of these meetings, along with high-stakes trade talks between Washington and Beijing aimed at preventing former President Donald Trump’s proposed tariff hikes, could shape the next chapter of global financial volatility.
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