Oil prices jump as U.S., Iran carry out airstrikes

Oil prices jumped and world shares were mixed on Monday after the U.S. carried out airstrikes and Iran retaliated, officials said. Markets reacted with crude futures rising as investors priced in potential supply disruption and higher risk premia; equity moves were uneven across Asia and Europe. Officials provided limited detail on targets and damage.

Oil supply and regional risk

Traders flagged the potential for disrupted shipping and tighter crude availability should hostilities spread near key export routes. Higher crude would typically add to near-term inflationary pressure and could encourage a cautious tone in bond and foreign-exchange markets, traders said. Energy-sector stocks tended to outperform in early trade, reflecting a classic risk reallocation toward commodity exposures.

Officials said governments were monitoring the situation and that further military activity would be the main determinant of market direction. Liquidity and headline flow will likely amplify price swings while information remains thin, creating short-term volatility across commodities and risk assets.

Markets will watch for official briefings, additional strikes or confirmations of damage; the next 48 hours are the critical window, with investors especially focused through July 15, 2026 for signs of escalation or de-escalation.