Tensions between the U.S. and Iran have been rising, but the big moves in gold and oil prices can help gauge just how serious the situation has become — and hint at what’s next for global financial markets.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

Israeli airstrikes on Iranian nuclear facilities immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying.