Oil and gold prices surged following Israeli airstrikes on targets in Iran, escalating tensions in the Middle East. Brent crude jumped over 10%, reaching $73.12 per barrel — the highest level since January and the biggest daily gain since 2022.

Investors turned to safe-haven assets: gold rose 1.5% to $34,434 an ounce, while the Swiss franc and yen gained 0.4%. Shares of IAG and easyJet dropped over 4% amid airspace closures.

BAE Systems gained nearly 3%, BP and Shell rose by 2%. Stock indices across Asia and Europe fell by 1–1.6%, with US futures also down.

Israel called the attack a pre-emptive strike. In response, Iran launched 100 drones. The US said it was not involved.

The yield on 10-year US Treasury bonds dropped to 4.31%, the dollar index rose 0.5%, while the euro and pound slipped.

Analysts warn of possible disruptions in the Strait of Hormuz — a key route for 20% of global oil shipments.