Second, Iran could escalate the conflict by retaliating against sensitive targets, including direct attacks on oil exports. The ensuing economic harm could range from modest to se

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.

For days, the oil market has been in a volatile state as traders watched to see whether the U.S. would join Israel in attacking Iran. Now that the