Oil prices rose after Israel and Iran continued their attacks on each other over the weekend. The market is preparing for an escalation that could disrupt supplies from the region, which accounts for about a third of global crude oil production,

With the exception of Russia’s invasion of Ukraine, big swings in oil have been driven by broader geoeconomic trends

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.