Some energy facilities have been hit in both Israel and Iran in recent days, although major oil and gas infrastructure and flows have so far been spared.

Iran’s allies, the self-described “Axis of Resistance,” have been severely hurt by ongoing Israeli attacks since the Oct. 7, 2023, Hamas attack on Israel, particularly Lebanon’s Hezbollah and Hamas in the Gaza Strip. Iran has long used those groups as both an asymmetrical way to attack Israel and as a shield against a direct assault.

Stocks lost ground in early trading Tuesday, while oil prices moved higher, as investors monitored developments in the escalating conflict between Israel and Iran and digested disappointing economic data.

Oil prices climbed on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.

Iran and Israel continued to exchange attacks into Monday amid the latest round of conflict between the two nations.