Israel and the US are on high alert an Iranian attack could happen 'as soon as this week'.
Fears of war have been stoked as crude oil futures went up a percent overnight, sparking concerns markets are positioning themselves for a wider war in the Middle East.
Israel's defense minister has claimed Iran's military preparations suggest an attack is imminent, while an international diplomatic effort is trying to prevent a large-scale Iranian attack on Israel.
Tensions and the widening conflict since the October 7 Hamas attacks on Israel have already weighed heavily on trade.
Michael Every, Global Strategist for Rabobank, says the crude oil futures figures are a warning sign of further possible volatility.
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