Trump acknowledged that the public would feel some economic pain as fighting continues to threaten areas that are critical to the world's oil and natural gas production.

Oil prices rose sharply when market trading began late Sunday, as traders were betting the supply of oil from Iran and elsewhere in the Middle East would slow or grind to a halt.

A sell-off for stocks is slamming into Wall Street Tuesday after wrapping around the world, as oil prices leap even higher with worries that the widening war with Iran may do more sustained damage

The price of crude oil rose to $80 a barrel and the price of natural gas jumped 30% after Iran effectively sealed off the strategic Strait of Hormuz.

Stocks saw heavy volatility on Tuesday, with the Dow down as much as 1,200 points before clawing back much of that loss as traders assessed Iran war updates.

Oil prices leaped on worries that war with Iran could clog the flow of crude, while U.S. stocks swung from sharp losses to tiny gains

The price of oil surged Monday as President Donald Trump signaled that the conflict between the U.S., Israel and Iran would potentially be drawn out for longer than a few weeks, raising concerns that the global energy market would face disruptions as a result.

Gas prices rose and the stock market took a hit as the U.S. feels impacts of continued Middle Eastern conflict.