Israel, Iran Exchange Missile Strikes, Oil Crosses $92, KOSPI Plunges 7%

Summary

On Sunday, President Donald Trump said he would press Israeli Prime Minister Benjamin Netanyahu not to escalate tensions with Iran, but Iran and Israel have since then exchanged strikes. Oil Prices Surge As Middle East Tensions Escalate Dow futures fell 63 points, or 0.12%, to 50,873.00, while S&P 500 futures rose 15 points, or 0.20%, to 7,415.50 and Nasdaq 100 futures gained 194.75 points, or 0.67%, to 29,221.25 as of around 9:03 p.m. EDT. In commodities, WTI crude oil climbed 2.04% to $92.39 per barrel, while Brent crude advanced 2.18% to $95.12 per barrel. Natural gas futures fell 1.64% to $3.176 per MMBtu. Meanwhile, the U.S. dollar index stood at 100.009, down 0.06%. Asian markets traded lower, with South Korea’s KOSPI plunging 7.02% to 7,587.74 and Japan’s Nikkei 225 declining 3.51% to 64,248.27. Trump Pushes For Restraint Amid Israel-Iran Tensions Trump, speaking to Axios, said he would encourage Netanyahu to avoid another round of attacks. "Israel had its strike and Iran had its strike. We don’t need another one," Trump said, adding, "We are very close to a final deal with Iran." Iran had fired missiles at Israel in response to Israeli strikes near Beirut earlier in the day, marking Tehran's first direct missile attack since the fragile April 8 ceasefire took effect. Despite Trump's push for restraint, the Israeli military later said it struck military targets in western and central Iran, CNN reported. Several loud explosions were reported in Tehran, according to state-affiliated Mehr News. Iranian state broadcaster IRIB said blasts were also heard in the cities of Tabriz and Isfahan, the report added. US-Iran Talks Face Pressure From Lebanon Conflict The latest flare-up comes as U.S.-Iran negotiations continue over ending months of conflict. Tehran has insisted that any broader agreement must include a durable ceasefire in Lebanon, where fighting between Israel and Hezbollah has continued despite diplomatic efforts. Earlier this month, Trump reportedly rebuked Netanyahu during an "expletive-laden" phone call over Israel's escalating operations in Lebanon. Trump later said his intervention helped secure an agreement between Netanyahu and Hezbollah to halt hostilities. Netanyahu, however, maintained that Israel's position "remains unchanged," adding that military operations in southern Lebanon would proceed as planned. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image via Shutterstock/ Stigura20 © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here.