The latest escalation in tensions in Iran has paved the way for the return of risk premiums on oil prices once again.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

A further escalation in Iranian-Israeli tensions could take oil prices above $80 and would mean more upside for the dollar.

Israel’s attack on Iran puts oil in the crosshairs… the bull case beyond conflict… nuclear stocks are moving higher… a new gold all-time-high is on the way VIEW IN BROWSER Tensions in the Middle East have officially erupted – and this time,

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Iran has been battling an acute energy crisis for months because of gas shortages, and repairing any damage would both be costly and take significant time.