• Oil prices jumped over 4% amid intensifying Israel-Iran conflict and regional supply fears.
• President Trump urges evacuation from Tehran amid calls for Iran's "unconditional surrender."
• Global stock markets fell as investors reacted to increased geopolitical tensions.

The ongoing conflict between Israel and Iran has prompted a significant surge in oil prices, with Brent crude witnessing an increase of more than 4%, reaching $76.45 per barrel, amid heightened fears of a broader geopolitical crisis impacting global oil supply, according to Al Jazeera and Reuters.

As tensions escalated, U.S. President Donald Trump publicly called for Iran's "unconditional surrender" and warned American citizens to evacuate Tehran, a move that further stoked fears of U.S. military involvement, contributing to volatile oil trading conditions, according to Channel News Asia and Reuters.

Despite potential disruptions, analysts indicated that other OPEC members could offset any significant drop in Iranian oil production. Iran, a major player in the oil market with significant reserves, contributes about 4% of global oil supply, and any escalatory military actions could threaten vital energy routes, particularly through the Strait of Hormuz, which is central to global oil transfers, according to India Times and ABC News.

Moreover, the impacts of the Israel-Iran crisis were felt across global stock markets, which experienced declines due to the uncertainty surrounding oil supply disruptions amidst the conflict. The S&P 500 and other major indices reported losses of around 0.8%, reflecting investors' anxiety regarding the situation's evolution, according to India Times and Channel News Asia.

The situation remains fluid, with projections reflecting a heightened risk of elevated oil prices if military offensives continue and supply chains are threatened. Economists and market experts are closely monitoring geopolitical developments for their potential to influence both oil prices and broader economic conditions, as the conflict appears to have lasting implications on global energy markets, according to Al Jazeera and Reuters.