Oil prices extended their upward trajectory on Tuesday following reports of fresh US military strikes against Iran.
The escalation marks a significant deterioration in the fragile truce that had briefly calmed markets, reigniting fears of a broader conflict and potential disruptions to global energy supplies.
The renewed hostilities have triggered a sharp cross-asset rotation.
While energy benchmarks climbed on supply risk, equity markets reversed the broad gains seen on Monday.
Technology stocks, which had led the previous day's recovery, suffered fresh losses as investors fled riskier assets amid growing geopolitical uncertainty.
This development stands in stark contrast to Monday's session, where US equities posted broad gains and the S&P 500 and Nasdaq Composite rallied on hopes of de-escalation.