Oil prices experienced extreme volatility as the Middle East conflict entered its second week, with the international benchmark surging to over $110 a barrel before plummeting to below $90 after President Trump's conflicting statements about the war's progress. The dramatic swings reflect deep uncertainty about the conflict's potential to disrupt global energy supplies and trigger inflation.

Countries have implemented price caps and fuel rationing as economists warn that prolonged U.S.-Iran hostilities could significantly slow economic growth worldwide. Americans are already feeling the impact at gas pumps, with prices up nearly 17 percent since the war began. The G7 nations have not yet expressed concern about fuel shortages, but the situation remains fluid.

Iran has shown no willingness to surrender to Trump's demands, instead naming the son of the slain supreme leader as his successor in a defiant move. The country launched missile and drone strikes across the Middle East today, while U.S. and Israeli strikes in Iran have killed approximately 1,300 people according to local officials. With conflicting messages from Washington and continued Iranian resistance, the conflict's trajectory remains highly uncertain, leaving global markets on edge.