50 years of oil-price shocks have taught us that only 2 things matter to markets right now

A combined U.S. and Israeli assault on Iran triggered one of the fastest spikes in crude-oil prices on record, producing acute volatility across virtually every major asset class over the past week. The shock has driven risk-off positioning and disrupted market flows, with outsized implications for energy, commodities and volatility-sensitive instruments.

Analysis

A combined U.S. and Israeli assault on Iran triggered one of the fastest spikes in crude-oil prices on record, producing acute volatility across virtually every major asset class over the past week. The shock has driven risk-off positioning and disrupted market flows, with outsized implications for energy, commodities and volatility-sensitive instruments.