The ongoing conflict between Israel and Iran is creating significant ripples in global markets, with oil prices soaring as tensions escalate. Experts predict U.S. gas prices could rise by 10 to 25 cents in the coming weeks, driven by the instability in the Middle East. The stock market reacted negatively with the Dow Jones falling over 700 points on multiple occasions as investors opted for safe havens like oil and defense stocks instead of equities. Despite the turmoil, some analysts suggest that the oil market may remain resilient in face of an all-out war. As the situation develops, market participants are advised to remain vigilant regarding potential economic repercussions and shifts in market dynamics.