Oil prices surged over 13% following reports of US-Israeli strikes on Iran, driven by heightened geopolitical tensions in the Middle East. The attack, which targeted Iranian military sites, triggered immediate volatility in energy markets as traders feared potential disruptions to oil supplies. Brent crude jumped to per barrel, while West Texas Intermediate (WTI) climbed to , marking one of the largest single-day gains in months. Analysts attributed the sharp rise to the region's strategic importance in global oil production and the risk of further escalation. The surge underscores the sensitivity of energy markets to geopolitical risks, particularly in the Gulf. Traders are now closely monitoring Iran's response and whether the US-Israeli alliance will intensify military actions. A prolonged conflict could disrupt key shipping routes like the Strait of Hormuz, which handles 20% of global oil exports. This volatility may also pressure OPEC+ to adjust production quotas, impacting global energy prices. For Gulf investors, the situation highlights the need to hedge against energy price swings and diversify portfolios. The regional economy, heavily reliant on oil exports, could face short-term inflationary pressures. Key assets to watch include Brent crude, WTI, and regional equities in energy sectors. Traders should monitor statements from OPEC+ and any diplomatic developments between major powers in the coming days.