On June 13, when Israel attacked Iran, the entire world held its breath. This war is not just a military issue—it’s affecting global markets, especially oil, gold, and gas. The economic shock has reached countries like India too.

Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine.

Oil prices jumped following Israel’s attack. A de-escalation could bring oil back below $70 a barrel but a broader escalation could push it toward $90-$100, Swissquote Bank said.