Oil futures jumped as the market reopened Sunday night, building on last week’s surge after Israel attacked Iranian energy facilities over the weekend and underlining fears around potential disruption to Middle Eastern crude flows.

Israel’s stunning attacks on Iran’s nuclear program and military leadership are embroiling the Middle East in another deadly war — and could imperil President Donald Trump’s pledge to slash oil prices for American consumers.

What is the biggest US crypto news today? JPMorgan says an attack on Iran could spike oil prices to $120, driving US CPI inflation to 5%.

Keep an eye out for signs of labor-market weakness, as well as the risk that rising oil prices could put more upward pressure on inflation.

Israel’s defense minister issued a stark warning to Iran on Saturday, saying that “Tehran will burn” as the two nations traded missile salvos following Israel’s surprise attack on Iran’s nuclear program earlier this week.