Stock market today: Asian markets are mixed, oil prices jump and Israel moves to prop up the shekel

BANGKOK (AP) — Crude oil prices surged while stocks were mixed on Monday after the Israeli government declared war following deadly attacks by Hamas from the Gaza Strip.

U.S. futures declined. Oil prices gained about $3 a barrel.

Conflict in the Middle East often raises the specter of higher oil prices given the risk of disruptions to supplies.

“Disruptions or escalations in the region can have far-reaching implications for energy markets, global supply chains, and geopolitical dynamics,” Stephen Innes of SPI Asset Management said in a commentary.