Iran's oil ministry said late Saturday that Israel has struck the Shahran oil depot in western Tehran—one of the capital’s key fuel sites. A second depot in southern Tehran was also hit, it said in a statement.

Here are a five worst case scenarios for global oil markets, split between what Israel and Iran may do next in an unpredictable and rapidly escalating conflict.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.