What to watch in markets as Iran attacks stir up 'worst fears' for oil

Giuseppe CACACE / AFP via Getty Images

• The US and Israel's attack on Iran is likely to send oil prices sharply higher.
• A prolonged closure of the Strait of Hormuz would throttle a major global energy supply line.
• History suggests investors will shelter in safe havens like gold and Treasurys in the coming week.

Investors are bracing for the weekend attacks on Iran to ripple through markets. Front and center is the oil market, and the looming threat to energy flows.