The dramatic escalation in tensions between Israel and Iran caused a spike in the price of crude and raised fears among oil traders about disruption to shipping in the Strait of Hormuz, one of the world’s most vital waterways.

Deposing Iran’s Supreme Leader Ayatollah Ali Khamenei and his regime may cause a sustained spike in oil prices

The conflict between Israel and Iran has reached an unprecedented level, with verbal threats and aerial engagement with ballistic, cruise missiles, and drones.