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.

Stocks moved sharply higher Monday morning, recovering from steep losses the previous session, as investors keep close tans on the latest developments in the ongoing conflict between Israel and Iran.

Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.