Oil prices rise and stock prices decline amid US-Israel conflict with Iran

U.S. and Israeli attacks on Iran have caused global market turbulence, with U.S. futures dropping over 1% and oil prices surging—U.S. crude rose 9% to $73 per barrel. European markets also fell sharply, while defense and oil stocks saw gains in Asia, particularly in Shanghai. Investors are concerned about potential disruptions to oil supplies, especially through the crucial Strait of Hormuz, which could lead to broader economic impacts.

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