** Oil prices shot up after reports surfaced that Israel might be preparing a strike on Iran’s nuclear facilities, sparking fears of a wider conflict in the Middle East. Gold prices also climbed as investors sought safer assets, though Asian stock markets stayed steady. Meanwhile, China lashed out at the U.S. over semiconductor export restrictions, adding another layer of tension to global trade—even as both countries had recently tried to ease relations. Federal Reserve officials also warned against cutting interest rates too soon, keeping markets on edge.

What This Mean: ** This story matters because it shows how fragile global markets are when geopolitical risks flare up. A potential Israeli-Iran conflict could disrupt oil supplies, pushing energy costs higher worldwide. At the same time, the U.S.-China chip dispute highlights how tech trade wars aren’t going away, even amid attempts at diplomacy. For everyday consumers, this could mean pricier gas and electronics, while investors face more uncertainty. It’s a reminder that global tensions don’t just stay in headlines—they hit wallets too.