Oil prices were stable on Monday after Iran's oil production infrastructure was excluded from intensification of military conflict with Israel, while the Strait of Hormuz remains open

The Middle East conflict adds further complexity to the RBA's decision making. The post How could the rising oil price impact interest rates? appeared first on The Motley Fool Australia.

About 21mn barrels of oil from Iran, Iraq, Kuwait, Saudi Arabia, Qatar and the United Arab Emirates pass daily through the narrow waterway separating the Islamic republic from the Gulf states, representing about one-third of the world’s seaborne oil supplies.

Stock futures were higher on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices rallied after Israel attacked key areas of Iran’s energy infrastructure over the weekend,

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.