Oil prices rallied sharply on Tuesday while global equities retreated, driven by fresh US military strikes against Iran that have reignited fears of a broader regional conflict.
The escalation marks a significant reversal from the diplomatic de-escalation that had buoyed markets earlier in the week, sending investors back to risk-off positioning.
Brent crude and WTI benchmarks extended gains as traders priced in the potential for supply disruptions in the Persian Gulf.
The move underscores the persistent vulnerability of energy markets to geopolitical shocks, with shipping routes and export infrastructure once again under scrutiny.
Meanwhile, the technology sector led losses in US equities, wiping out the broad-based gains seen on Monday as the Nasdaq Composite and S&P 500 faced renewed selling pressure.
The strikes complicate ongoing diplomatic efforts and raise questions about the durability of the fragile truce that had briefly calmed market nerves.