As markets monitor potential supply disruptions Energy Aspects' Amrita Sen expects prices to hold at $80 a barrel. Saudi Arabia has contingency plans to move its oil through the East-West pipeline via the Red Sea, as investors focus on the Strait of Hormuz.

Analysis of the Ras Tanura Aramco refinery fire after drone and missile strikes, regional energy security impacts, and travel disruptions across the Gulf.

U.S. and Israeli strikes on Iran sent stock futures tumbling and oil prices surging over potential supply disruptions in the Strait of Hormuz.

Expect short-term disruption and uncertainty, analysts say. But unless there's prolonged conflict, markets should settle down relatively quickly.

Oil markets are bracing for sharp price spikes after the US-Israel attacks on Iran and Tehran's retaliation. Iran's role as a major producer matters, but its strategic position is keeping traders on edge.

The U.S. and Israeli attacks on Iran rattled world markets early Monday, with U.S. futures falling more than 1% and oil prices soaring.