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Selling pressure on 10-year US Treasuries from the latest round of Israel-Iran conflict is likely to have a lasting effect if past episodes of clashes between the two nations are any guide.

An exchange of strikes on refineries and gas facilities was limited but raised the risks to an industry with broad economic impacts.

An Iranian lawmaker said closure of the Strait of Hormuz, a critical chokepoint in the global energy trade, was under serious consideration.

Israel’s attack on Iranian nuclear and military sites on Friday, and the resulting oil-price surge and airline-stock slump, could pose even more obstacles for consumers navigating an already unusual summer travel season.