Recent attacks in the Middle East, particularly targeting Saudi infrastructure and key oil transit routes, have caused oil prices to soar above $108 per barrel. Concerns over energy supply disruptions and the ongoing Iran conflict have compounded market anxieties, leading to significant rises in both oil and diesel prices. Analysts warn that with the current geopolitical instability, oil prices could approach $120, impacting consumer fuel costs and driving inflationary pressures. As a result, market fears have escalated, prompting a decline in stocks and bond markets as traders reassess economic forecasts.