Middle East tensions escalate as Israel strikes Tehran during Persian New Year, sending shockwaves through global energy markets. The conflict has intensified pressure on oil supplies, particularly through the Strait of Hormuz, where roughly one-fifth of the world's oil transits. Iran's retaliatory attacks have already pushed global energy prices higher, creating significant economic ripple effects worldwide. Crude oil prices have declined 221 points as markets react to the escalating geopolitical tensions and uncertainty. Meanwhile, precious metals like gold and silver have surged, reflecting investor concerns about broader economic stability. The conflict threatens to draw additional regional players into the war, potentially destabilizing energy markets further and affecting global supply chains.
