Markets tremble as Iran conflict widens, oil surges and stocks dive

Global markets swung violently as the U.S.-Israel campaign against Iran intensified, with oil prices jumping toward $120 a barrel and major stock indexes in Asia and Europe slumping amid supply-security fears. Officials insist the price spike will be temporary, citing potential reserves releases and ongoing market management, while the conflict spills into geopolitics and daily life—fromIran’s leadership changes and NATO defenses to asylum discussions for Iran's women’s soccer team in Australia and U.S. casualties in the fighting.