Oil prices swung dramatically after President Trump's remarks about the Iran conflict, with Brent crude plunging from nearly $120 a barrel to below $90. The S&P 500 rebounded with a 0.8 percent gain, recovering some of last week's 2 percent loss. Global markets showed resilience despite ongoing uncertainty about the war's economic impact.

For over a week, investors have monitored the U.S.-Israeli strikes on Iran launched February 28. The conflict has brought oil transport through the Strait of Hormuz to a virtual standstill, raising concerns about prolonged energy supply disruptions. European stocks rose about 2 percent while Asian markets recovered, with South Korea's Kospi surging 5 percent.

Gasoline prices continue climbing, reaching $3.54 per gallon in the U.S., up 19 percent since the strikes began. Governments across Asia and Europe worry about inflation as fuel costs rise. The Middle East escalation has pushed oil to levels not seen in several years, with officials warning that even if fighting stops soon, energy supply disruptions could last weeks.