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<h1>Geopolitical Tensions Spark Sharp Market Volatility with Crude Oil Prices Spiking and Global Stocks Tumbling Amid Escalation Fears</h1> Crude oil prices surged and stock markets declined after a military confrontation between two regional powers. Financial markets reacted nervously to potential escalation risks, with major stock indices experiencing significant drops. The benchmark US crude oil price increased substantially, reflecting market concerns about potential disruptions to global oil supply and broader economic implications.