The broader crypto market has also tanked, dropping 7% over the past 24 hours.

“Our objective was the destruction of Iran’s nuclear enrichment capacity and a stop to the nuclear threat posed by the world’s No. 1 state sponsor of terror.”

General Dan Caine told a news conference on Sunday that an assessment of “final battle damage will take some time.”

Based on the closing price of Brent crude on Friday, a 10% jump would send the global oil benchmark to nearly $85 per barrel.

The broader crypto market has also tanked, dropping 7% over the past 24 hours.

America's involvement in the Iran-Israel conflict could buffet an economy that's already weakening.

Bitcoin fell to its lowest level in over a month after U.S. airstrikes on Iran, fueled by inflation fears, institutional pullback, and forced liquidations.

Bitcoin sank as much as 3.8 per cent and Ether as much as 10 per cent in the aftermath of the attacks.