TL;DR

Oil jumps 7% on Israel-Iran strikes; Dow drops 1.8%; U.S. aids Israeli missile defense.

Highlights

• Oil surged 7% to a multi-month high after Israeli strikes destroyed Iran’s Natanz uranium enrichment plant4; IAEA confirmed radiological and chemical contamination, but said levels are manageable5.
• Global stocks fell sharply; Dow closed down 1.8% as Middle East conflict risk spiked. Defense and energy shares outperformed1.
• Iran launched about 150 ballistic missiles at Israel, injuring at least 63; Israel intercepted most with U.S. military support23.
• Israel’s cabinet is weighing broader retaliation after Iran’s strikes, warning Tehran will pay a “very heavy price”126.
• Iran’s Revolutionary Guard threatened to target Israeli economic and energy infrastructure if further attacks occur8.
• Reports indicate Israel struck areas in Tehran near the Supreme Leader’s residence and presidential compound9.
• Sirens sounded at the U.S. Embassy in Baghdad amid unconfirmed reports of a missile attack; no casualties confirmed11.
• U.S. warned Iran at the UN of “dire consequences” for any attack on Americans; called Israel’s strike self-defense, but urged de-escalation7.
• President Trump and Saudi Crown Prince called for restraint and diplomatic solutions in talks with regional leaders13.
• Invesco and Galaxy registered a Solana ETF in Delaware; major asset managers updated SEC filings for spot Solana ETFs, signaling regulatory progress14.

Commentary

Escalating military action between Israel and Iran drove a pronounced risk-off move in global markets, with energy prices spiking and equities under pressure1. The destruction of Iran’s Natanz enrichment facility4 and subsequent missile exchanges have raised the risk of further regional disruption, particularly to oil infrastructure. The IAEA’s confirmation of contamination at Natanz adds a nuclear safety dimension, though current levels are described as manageable5.

U.S. involvement in intercepting Iranian missiles3 and Washington’s warnings at the UN underscore the risk of broader entanglement7, while both Israeli and Iranian officials are signaling possible further escalation68. Markets responded with a rotation into defense and energy stocks, while safe-haven flows supported the dollar and Treasuries1. Headlines about potential strikes on Israeli and Iranian economic assets89, as well as unconfirmed threats to U.S. facilities in Iraq11, add to overnight event risk.

Crypto markets saw positive regulatory signals as multiple asset managers advanced filings for spot Solana ETFs14, but broader risk aversion may limit near-term upside. For traders, the focus remains on overnight developments in the Middle East, with energy markets especially sensitive to any new threats to infrastructure or signs of de-escalation. Equities and credit remain exposed to headline risk, while safe-haven assets are likely to stay bid if tensions persist.