The consequences of the increasingly urgent hostilities between Israel and Iran are multifold—humanitarian, geopolitical, and so on. If the situation deepens, it could also have important implications for energy markets and, by extension, climate change and the energy transition.

Stock indexes and Treasury yields end the week little changed.

Global benchmark Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel-Iran tensions flare-up.