Iran is reportedly considering closing the Strait of Hormuz, a critical global oil chokepoint, as tensions with Israel escalate,

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.

Salem predicts that this attack may push Iran to make a deal with the U.S, "the outlines of which might be that Iran accepts to forgo enrichment inside Iran, with a big deal with the U.S. and the U.S. lifts sanctions on Iran and that could obviously lead to a sudden and rapid decline in oil prices, so one has to keep that in mind."