Oil prices climbed sharply after a new round of U.S. and Iran strikes. Brent rose 3% to $76.40 a barrel, while WTI futures were up 2.9% to $72.50 in early European trade. The U.S. revoked a waiver that let Tehran legally sell oil, tightening supply expectations.

Equity futures reflected growing worry. The S&P 500 fell 0.2%, the Dow Jones slipped 0.4%, and Nasdaq remained flat. Memory‑cycle concerns pushed South Korea’s Kospi into a bear market, adding to global downward pressure.

Higher crude drew up sovereign debt yields, and the dollar held steady as investors await Federal Reserve minutes next Wednesday. Leaders will also discuss Iran and rising European defense budgets at the NATO summit in Ankara.

For investors, the escalation signals fresh supply risk that can lift oil‑linked equities and debt costs. U.S. tech stocks face volatility, while defense spending could boost related sectors. Monitoring Fed minutes will be crucial for assessing interest‑rate trajectories amid this geopolitical backdrop.