Oil spikes 8% and stock futures slide: Here's how markets are reacting to the Iran attacks

Iranian missiles struck Bahrain.

Stringer/REUTERS

• Oil prices surged and stock futures tumbled as traders positioned for the week following strikes on Iran.
• Brent crude spiked 8% and WTI jumped 7% amid threats to global energy flows.
• Iran attacked ships passing through the Strait of Hormuz on Sunday.

Markets were reeling ahead of the new week, with oil surging and US stock futures tumbling on Sunday evening after the weekend attacks against Iran by the US and Israel.