The price of oil rose and U.S. stock futures fell as global markets react to the U.S. strike against nuclear targets in Iran. The price of Brent crude oil, the international standard, rose 3.3% to $79.

Most stock markets in the Gulf were trading higher on Sunday, relatively unscathed by escalating tension in the region following U.S. strikes on Iranian nuclear sites, as investors assessed the potential economic impact of the conflict.

Stock indices across Australia, Japan, Korea, mainland China, Hong Kong and Korea fell up to 0.90 per cent. Gift Nifty was down 21 points or 0.08 per cent at 25,001.50, hinting at a muted start for the market.