Ten days after the outbreak of conflict in the Middle East, international markets have started to reflect the initial economic consequences of a crisis that could evolve into one of the most significant geopolitical risks. In periods of tension, investors typically seek so-called 'safe havens,' prompting analysis of current market reactions. This time, however, the image is more complex than before.

Currently, oil prices have surged dramatically, with Brent crude rising from around $75 per barrel to nearly $119, marking an increase of approximately 40% to 45%. Initially, gold reacted with notable volatility but has since returned to levels nearly equivalent to those before the crisis. Meanwhile, the value of the dollar is rising, though without experiencing a significant spike. This indicates that while markets are pricing in an energy shock, they have not yet fully priced in a comprehensive economic crisis, suggesting that investor sentiment is one of cautious optimism despite the troubling geopolitical landscape.

The reaction within the energy market has been the most pronounced following the conflict's beginning. Investors are closely monitoring the implications of such a rise in oil prices, as they can significantly affect global economic stability. With the uncertainty surrounding the ongoing situation, further fluctuations in investment strategies and market behaviors can be anticipated, as stakeholders adjust to a rapidly changing geopolitical environment.