The initial round of Israeli attacks sent oil prices 7 percent higher on Friday. Still, at about $74 a barrel, Brent crude remains below the $80 average for 2024, the Deutsche Bank analysts wrote. The market continued to waver, though, and by Monday, oil prices had fallen about 3 percent.

Despite stunning early successes in Israel’s unprecedented strikes on Iran, a weekend of intensive bombardment and retaliation is raising questions about Israel’s exit strategy – how it can end this conflict with its ambitious goals achieved.

In their fourth day of fighting, with no end in sight, ripples from the Israeli-Iranian conflict are beginning to rock global supply chains. Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes as they assess the risks,