In this episode of 'Seven Minutes on Markets', hosts Ben Kumar and Sam Hannon discuss the ongoing Iran conflict's effects on global markets. The Straits of Hormuz closure has contributed to rising oil prices, creating uncertainty in the markets. While historical conflicts have shown markets' resilience over time, the current situation brings second-order effects. Rising oil prices influence sectors from airlines to microchip manufacturing, highlighting the importance of change over absolute price levels. With central banks pondering interest rate adjustments, the economic resilience of the US could play a crucial role in stabilizing global markets.