Bombing could trigger oil price rise, experts say

NEW YORK — US attacks on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors said, as they assessed how the latest escalation of tensions would ripple through the global economy.

The attacks, announced by US President Donald Trump on the social media site Truth Social, were the question going into the weekend, when investors were mulling a host of different market scenarios.

In the immediate aftermath of the announcement, they felt the US involvement in the Middle East was likely to cause a sell-off in equities and a possible bid for the dollar and other safe-haven assets when trading begins but also said much uncertainty about the course of the conflict remained.