Iran launched a significant missile attack on Israel, escalating regional tensions in the Middle East. The attack followed a series of retaliatory strikes by Israel against Iranian-backed groups in Syria and Iraq. Meanwhile, US Republicans blocked a congressional measure aimed at halting the US air campaign against Iran, maintaining support for Israel amid the escalating conflict. The developments come amid heightened geopolitical risks, with both sides showing no immediate signs of de-escalation. The conflict has immediate implications for global markets, particularly commodities. Oil prices surged as investors priced in the risk of supply disruptions from the Middle East, a critical oil-producing region. Gold also gained traction as a safe-haven asset amid rising uncertainty. Traders are closely monitoring the situation for further volatility, especially in energy markets, where even minor escalations could trigger sharp price swings. For Gulf and MENA investors, the conflict underscores the fragility of regional stability, which could impact trade routes and energy security. The prolonged standoff may lead to higher oil prices, benefiting energy exporters but hurting import-dependent economies. Key indicators to watch include OPEC+ production decisions, US-Iran diplomatic talks, and any military escalation that could disrupt Middle Eastern oil infrastructure.

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