Renewed Iran-Israel Hostilities Send the Oil Price Back Up and Keep the Risk-Off Trade Intact

Renewed Mideast tensions prompt an added investment headache.

Jun 08, 2026

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Key Takeaways

• Financial Conditions Now the Tightest Since April: Friday’s risk-off trade has been extended, with this fresh round of hostilities between Iran and Israel sending Brent crude up nearly +4% to over $97 per barrel. All the while, financial conditions are tightening, paced by rising interest rates, a flattening yield, and the dollar at its highest level since early April. The last time financial conditions were as tight as they are today, the S&P 500 was trading around -200 points lower than it is right now.

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