World powers respond to rising Middle East tensions as Israel strikes Iranian sites. The U.S. insists it was not involved in strikes, and the much of the globe urges restraint.

The Israel-Iran conflict has rapidly escalated following Israel's surprise airstrikes on June 13, 2025, targeting key Iranian nuclear and military sites, including Natanz and Isfahan. The strikes killed senior Iranian commanders and scientists,

The idea that combat fuels more purchases of weapons made by a given firm and makes that company’s stock worth more ignores how long in advance militaries procure weapons.”

The scale of any energy price rises, and the wider impact, will depend on the magnitude of what comes next in the conflict between Israel and Iran. But it does have the potential to be “a bad shock for the global economy at a bad time” says Mohammed El-Erian, chief economic adviser at asset manager Allianz.