Oil prices climbed over 4% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures settled at $76.

When Israel launched Operation Rising Lion, officials in Russia described the current escalation in the Middle East as "alarming" and "dangerous."Still, Russian media were quick to stress the potential positives for Moscow.

Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict.