Fresh uncertainty over the US Iran conflict also increased concerns among investors about oil prices, inflation and the global economic outlook. Markets are closely watching developments in West Asia because any prolonged disruption around the key oil route could keep energy prices elevated. AdvertisementOil prices rise amid uncertaintyCrude oil prices moved higher as uncertainty around the conflict increased. AdvertisementInflation data in focusAttention now shifts to key US inflation data. Higher oil prices could add pressure to inflation just as slower hiring is creating concerns about consumer spending.