Middle East Turmoil Causes WTI Crude Oil to Surge Nearly 10%

Volatility surged on Monday following U.S.-Israeli strikes on Tehran this weekend, resulting in the death of Iran's leader Khamenei while blowing a gaping hole into an already teetering Middle East power balance.   Energy was by far the strongest sector in the S&P 500 as WTI Crude Oil prices spiked by nearly 10% well above $70 per barrel, though the Treasury market was also hardly a beneficiary of safe-haven flows as investors recalibrated the inflationary impact of costlier gas prices into more complicated assumptions for Fed easing.   Industrials also outperformed as Defense names rallied, though Consumer stocks - particularly airlines and cruise lines - buckled under the weight of lower discretionary spending implications of a higher price tag at the pump.  The Vix briefly topped the 25-hangle - the highest level since November.Stocks bounced from the gap lower Monday morning, though the evening session is seeing uneasiness persist as investors mull the implications and assess the likely duration and the potential range of macroeconomic outcomes as the conflict unfolds.  S&P e-minis and Nasdaq 100 futures  are off by more than 0.2%.  In commodities, Gold - already the beneficiaries of geopolitical turbulence - also remains bid above $5,370 per ounce, while  Crude Oil remains north of $71 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Ousterup 19.4%LendingTreeup 12.6%Ingram Microup 9.8%Plug Powerup 8.8%Dave Inc.up 8.4%Asanaup 5.8%Amerescoup 3.4%Core Scientificup 3.1%ALSO HIGHER -CoStar Groupup 3.0% after insider BuyDOWN AFTER EARNINGS -MongoDBdown 23.7%Surgery Partnersdown 22.7%Harrowdown 13.2%Credo Technologydown 7.4%Nuvation Biodown 6.7%Power Solutionsdown 5.8%Limbach Holdingsdown 5.3%Archer Aviationdown 4.7%Quantum Computingdown 2.8%Senseonics Holdingsdown 2.2%ALSO LOWER -H2O Americadown 2.8% after equity offering