West Texas Intermediate crude oil surged 3.1% to $102.69 per barrel on fears of a widening Middle East conflict that could disrupt energy supplies. Front-month Brent crude also rose 3.0% to $115.97, as markets anticipate potential disruptions to global shipping and production. Yemen's Houthi rebels claimed a second attack on Israel within 24 hours, signaling deeper regional involvement in the escalating war. President Trump's reported plan to conduct a risky military operation inside Iran to seize uranium adds further uncertainty, potentially drawing U.S. forces deeper into the conflict.

Asian equities fell sharply on Monday as investors worried the prolonged U.S.-Israel war could slow global economic growth and prolong energy price pressures. StoneX's Matt Simpson warned tensions are broadening, with Iran-aligned militias attacking U.S. assets in Iraq and Houthi forces continuing Red Sea shipping disruptions. Agriculture and transportation industries face particular vulnerability to sustained energy price spikes, though no immediate supply shortages are confirmed.

The conflict shows no signs of de-escalation, with market analysts predicting continued volatility in energy markets until regional tensions ease. Investors should monitor OPEC+ production decisions and any developments from the U.S. uranium operation plan as key factors influencing future price movements.