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.

Iran said the Shahran oil depot in Tehran was targeted in an Israeli attack on Saturday but that the "situation was under control".

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.