Oil and gold prices are soaring, stocks are falling, as Iran war and Middle East conflict escalate

In the wake of the U.S.-Israel attack on Iran and the broader conflict that is now escalating across the Middle East region, oil and gas prices are skyrocketing on Monday along with precious metals like gold and silver.

Here’s an update on how markets are reacting to the conflict:

Oil and gas prices are up

Crude oil futures are up more than 7% over the last 24 hours as military operations threaten supply and spark fears of a drawn-out conflict that could disrupt the global economy.