World markets are reeling after the US and Israel attacked Iran over the weekend and killed Supreme Leader Ali Khamenei, disrupting international trade and travel and raising the risk of a prolonged conflict that has sweeping commercial and economic effects.

Here’s a rundown of where major assets stood at 8:00 a.m. ET on Monday:

Oil and gas

Brent oil, the international benchmark, was trading around 8% higher at $78.49 a barrel, while US crude prices were up 6% at nearly $71.35 a barrel.

Crude prices initially spiked more than 12% when markets opened on Sunday evening in the US, and were further fueled by news that Saudi Aramco halted operations at its Ras Tanura refinery in Saudi Arabia after a…