This latest iteration of the Middle East crisis is both familiar and unfamiliar. We’re all back obsessing about the oil price, yet we also know from the last few years that that same oil price has appeared somewhat impervious — oblivious?

NEW YORK (AP) — Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Investors are regaining some appetite for risk amid rising optimism that the conflict won't spill over into a broader regional crisis.

The Environmental Protection Agency has told staff overseeing the country’s industrialized Midwest– a region plagued by a legacy of pollution– to stop enforcing violations against the fossil fuel companies,

Importantly, this shift in positioning occurred before last Friday’s dramatic escalation in the Middle East, when Israel launched strikes on Iranian nuclear facilities and senior military targets,” said Ole Hansen,

Stocks moved sharply higher Monday morning, recovering from steep losses the previous session, as investors keep close tans on the latest developments in the ongoing conflict between Israel and Iran.

Norwegian workers employed on offshore drilling rigs will go on strike on June 21 if annual wage talks with employers fail, the oil and gas labour unions said on Monday.

Energy prices have jumped since the onset of clashes between Israel and Iran. Investors worry the conflict could have a big economic consequences.