Oil and gold prices soared as escalating conflict between Israel and Iran rattled global markets and raised fears of a broader geopolitical crisis. Brent crude surged nearly 10%, while WTI crude jumped 7.86% to $73.39 per barrel. Simultaneously, gold prices climbed over 1% to $3,445 per ounce, as investors sought safe-haven assets.
The market turbulence followed Israeli airstrikes on Iranian nuclear facilities in Natanz and other cities including Tehran, Tabriz, and Kermanshah. Israeli Prime Minister Benjamin Netanyahu called the strikes a "targeted military operation" aimed at dismantling Iran's nuclear and ballistic missile programs.
