Global markets have remained relatively calm amid the escalating tensions between Israel and Iran. But that sentiment could quickly shift, according to experts, if the conflict affects the Strait of Hormuz.

Oil rises in early morning Asian trading amid Middle East tensions. Israel’s military said it was conducting strikes in Tehran area of Iran early Wednesday local time. The military also issued two warnings about incoming missiles,

Russia has been seeking a deal to build the Power of Siberia-2 pipeline to deliver 50 billion cubic metres of gas a year to China, but the two sides have not been able to agree on terms.