"Market Reaction: Iran's Attack and the Impact on Oil, Gold, and Dow Futures"

Oil prices fell after Iran's weekend attack on Israel, as the market had already factored in the risk premium. The attack caused limited damage, leading to uncertainty over Israel's response. Analysts believe that any significant and longer-lasting price effects would require a material disruption to oil supply, such as constraints on shipping in the Strait of Hormuz near Iran. The conflict could still be contained to Israel, Iran, and its proxies, with possible involvement of the U.S., and any de-escalation could see prices falling back quite sharply.