Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

"A sustained $10 increase in oil prices is expected to increase inflation by 0.4% and lower GDP by 0.4%": Apollo Global Management 's ( APO -4.34%) chief economist Torston Slok says oil is fueling U.S. stagflation fears, adding to the effect expected from import tariffs.

Stock futures were higher on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices rallied after Israel attacked key areas of Iran’s energy infrastructure over the weekend,

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Richard Yetsenga, Group Chief Economist at ANZ Research, shared his insights on oil, trade, and the geopolitical forces shaping global markets.

Kenyans are staring at higher fuel prices in the coming months as the Murban Crude Oil prices rise above KSh 9,000 per barrel amid Israel-Iran hostilities.

That sent the yield on the 10-year Treasury up to 4.43% from 4.36% late Thursday. Higher yields can tug down on prices for stocks and other investments, while making it more expensive for U.S. companies and households to borrow money.