Iran is capable of seriously disrupting the world's oil supply in response to Israel's attacks, but this may not be to its own disadvantage

Brent at $120, the Iranian threat and the China factor: what will happen to oil after the Israeli strikes?

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Israel launched a series of airstrikes on Iran, attacking nuclear facilities, key military targets, high-ranking commanders and several top nuclear scientists. The escalation caused panic in world markets: oil rose sharply, gold reached $3437 per ounce, and leading Asian stock indices went into negative territory. Market participants warn that even a localized conflict can quickly get out of control, increase inflation risks and hit the global economy. These and other topics are covered in our review of key events for the morning of June 13.

"Traders rush to seek refuge": what Wall Street is saying about Israel's attack on Iran

Markets in the Middle East declined on June 12, due to fears of a new escalation of relations in the region. Stocks in Tel Aviv and Dubai fell more than 2%: Thursday could be their worst day in two months. The U.S. ordered some staff to leave the embassy in Iraq over fears of Iranian strikes. And CBS sources say Israel has warned U.S. officials to prepare for its operation against Iran.