The price of oil rose after U.S. and Israeli strikes on Iran, which led to the death of Iran's supreme leader, led to a 12% increase in crude oil prices. The international oil benchmark, Brent, surged 14% after trading began at 6 p.m. ET Sunday. While Iran's oil production is estimated to be less than 5% of global output, it has significant influence over the Strait of Hormuz, a critical passageway for over 20% of the world's daily oil demand. This increase could lead to higher gas prices for consumers as soon as this week. Stock futures also dropped, with futures indicating where the S&P 500 will trade tomorrow dropping 1.1% and Nasdaq 100 futures sliding 1.2%. The U.K. Dollar Index rose 0.3%, and the price of precious metals soared, with gold hitting $5,350.