The attacks, which strained a two-month cease-fire between Iran and the United States, were the latest jolt to energy markets.

The fresh strikes from the U.S., and the warning Iran issued in return, have brought renewed instability to the markets.

Oil prices and stock markets worldwide swung through a shaky Monday with uncertainty about what will happen with the Iran war. The S&P 500 swiveled between gains

Oil markets jolted higher Monday after Iran threatened to shut the Strait of Hormuz amid escalating tensions in the Middle East. West Texas Intermediate crude surged 7% to about $94 a barrel and Brent climbed 6% to roughly $97,

U.S. markets hovered near all-time highs Monday and oil rose more than 2% after President Donald Trump appeared to dismiss Iran’s response to a U.S. peace plan. Futures for the S&P 500 were essentially unchanged,

President Donald Trump told reporters fuel prices are "not very high, relatively speaking." Since the Iran war began, gas prices are up nearly 40%.

President Donald Trump has repeatedly said a deal with Tehran to reopen Hormuz is close, but such an agreement still has not materialized.

MSCI's global equities gauge managed a small gain on Tuesday with little support from Wall Street where heavyweight technology stocks stumbled while investors opted for safer bets, and oil prices settled lower as updates from the Middle East brought little clarity on progress toward peace.