The U.S. and Israeli attacks on Iran have sent a chill through world markets, with U.S. futures falling more than 1%

Israeli war in Iran is spiking oil prices as retaliatory attacks impact production throughout the Middle East, and fears of Iran disrupting operations in the Strait of Hormuz continue. CBS News MoneyWatch correspondent Kelly O'Grady has more.

Higher energy prices could lead to already-struggling U.S. consumers paying more at the pump and shelling out more for groceries and other goods.

Airline stocks fell sharply on Monday as the escalating conflict in the Middle East forced governments and airlines to shut down airports and cancel flights, sending oil prices surging. The sell-off followed weekend strikes on Iran by the United States and Israel and retaliation by Iran on targets across the region.

Israeli war on Iran develops. Spencer Jakab, an investing columnist for The Wall Street Journal, joins CBS News with more.

Iran’s attacks are spreading across the Middle East as Tehran fires missiles and allied militias are joining the fight against Israeli and U.S. strikes on the Islamic Republic

Here's what we know so far about the US and Israel's strikes on Iran, which led to counterattacks and fears of a wider regional war.

Iran quickly retaliated, firing missiles across the region, where the U.S. has numerous troops in an array of bases. Killing Khamenei was perhaps the biggest element of what could prove the most dangerous foreign policy gamble yet for a president with an unusually muscular approach to the world.