It's been a volatile stretch for US equities as Wall Street tries to wrap its arms around the war in Iran. But with the fighting now in its third week, investors are becoming more sanguine about the stock market as signs emerge that the worst may be over.

European oil majors offer more leverage to higher oil prices than their U. S. peers Markets have remained relatively phlegmatic in the teeth of a developing crisis in the Middle East but now analysts are sounding the alarm Markets have, by and large, maintained their composure in the face of a 60% rise in the price of Brent in the last month.

The market fallout of the Iran conflict has rippled across all major asset classes, leaving few areas of safety for global investors.