World powers respond to rising Middle East tensions as Israel strikes Iranian sites. The U.S. insists it was not involved in strikes, and the much of the globe urges restraint.

The Israel-Iran conflict has rapidly escalated following Israel's surprise airstrikes on June 13, 2025, targeting key Iranian nuclear and military sites, including Natanz and Isfahan. The strikes killed senior Iranian commanders and scientists,

The Iran-Israel conflict has set the stage for a week that will see US Fed and BoJ consider key policy decisions, along with a summit level meeting of Group of Seven leaders, and market participants will weight if the cues get further complicated.

Any disruption in Iran's oil production may impact global prices as Saudi Arabia and UAE are the only Opec+ members that can boost output.

Nevertheless, oil prices are $10 higher than they were a month ago and there are renewed fears increased energy costs could make everything - from petrol and food to holidays - becoming more expensive.

Oil surges as Israel attacks Iran in Middle East conflict, stocks slide with the Dow, S&P 500 and Nasdaq erasing weekly gains. Gold hits new record. FOX Business is providing real-time updates on the markets,