Amid war with Iran, economists are watching whether increased energy costs could lead to heightened inflation. What it means for the Fed and you:

President Trump also declined to rule out sending ground troops into Iran as the conflict spread into the Gulf countries and Lebanon and Israel exchanged strikes.

U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.

Jews across Israel gathered in bomb shelters to mark the holiday of Purim as a precaution against possible Iranian missile attacks.

Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.

The war in the Middle East has spiraled further as Israel and the U.S. pounded Iran, while Tehran and its allies hit back. Iran has long threatened to drag the region into total war,

Follow NBC News' live coverage as the U.S. and Israel attack Iran, Tehran hits back across the Gulf, and Hezbollah strikes from Lebanon, while Iran chooses a new supreme leader after the killing of Ayatollah Ali Khamenei.

Stocks recovered on Monday after tumbling earlier in the day over concerns that the U.S.-Israel attacks on Iran could drive up energy costs.