Middle East Tensions Ease: Oil Steadies, Stocks Gain

Global markets stabilized as tensions in the Middle East eased following Iran's attack on Israel, leading to a decline in oil prices and gains in European stocks and US equity index futures. Oil dropped on speculation that the conflict would remain contained, while Treasuries edged lower and aluminum and nickel surged following new US and UK sanctions on Russian supplies. Attention now turns to Wall Street's earnings season, economic data releases, and the IMF and World Bank spring meetings, as investors remain wary of sticky inflation and the prospect of higher interest rates.