<h1>Oil price surge spurs market volatility, boosting energy and defense names while raising inflation and bond-yield concerns.</h1> A sudden oil price surge followed military strikes on Iranian targets amid fears of disrupted crude flows, prompting gains for producers and defense contractors and losses for travel-exposed equities. The move was characterized as sentiment-driven rather than supply-confirmed. Gold rose as a safe haven and Treasury yields ticked up amid concerns that higher oil could generate inflationary pressure, complicating central bank interest-rate considerations.