Energy markets are poised to be the next battlefield in the spiraling Israel-Iran conflict

• After Israel decimated Iran’s military in its initial wave of air strikes, reports on Saturday indicated Iranian energy infrastructure was under attack. Meanwhile, Tehran warned that closing the Strait of Hormuz, a critical chokepoint in the global energy trade, was under consideration. Oil prices spiked on Friday, and escalation of the Israel-Iran conflict could send them higher.

The Israel-Iran conflict is poised to include economic targets as both sides seek leverage in the rapidly escalating series of attacks.