Recent military strikes by Israel on Iran have triggered widespread disruptions in global financial markets. Oil prices soared by as much as 14%, reaching over $75 a barrel, as traders reacted to escalating tensions in the Middle East. European stocks opened sharply lower, reflecting a sell-off amid fears of further conflict. The financial implications are significant, with analysts warning that this conflict could push oil prices even higher, potentially reaching levels over $120. Safe-haven assets, including the U.S. dollar and gold, saw increased demand as investors sought refuge from market volatility. Reports indicate that U.S. stock futures have also taken a hit, while companies like Exxon and Chevron experienced stock jumps due to the climbing oil prices. As the situation unfolds, market observers are closely monitoring the potential consequences for the broader economy.