Following recent US strikes on Iranian nuclear sites, oil prices have surged, while stock futures in the US and Asian markets have tumbled. Investors are on high alert as they anticipate potential Iranian retaliation, particularly in the vital Strait of Hormuz, raising concerns over global oil supply. Economic analysts warn that rising oil prices could significantly impact the fragile global economy, already grappling with various challenges. The situation continues to evolve as traders brace for varying scenarios concerning the Iran conflict, with some forecasts suggesting oil prices could reach unprecedented heights. Moreover, market players are closely monitoring developments, as ongoing tensions could precipitate further instability in both energy and equity markets.