By Mike Dolan

LONDON (Reuters) -What matters in U.S. and global markets today

I'm excited to announce that I'm now part of Reuters Open Interest (ROI), an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X.

World markets were calm on Monday, even in the face of this weekend's escalation of the Israel-Iran conflict, as volatile oil prices fell slightly from Friday's 4-month peak.

I'll discuss all of today's market-moving news below.

Today's Market Minute

* Iranian missiles struck Israel's Tel Aviv and the port city of Haifa before dawn on Monday, killing at least eight people and destroying homes, prompting Israel's defense minister to warn that Tehran residents would "pay the price and soon".

* Iran has told mediators Qatar and Oman that it is not open to negotiating a ceasefire while it is under Israeli attack, an official briefed on the communications told Reuters on Sunday, as the two foes launched fresh attacks and raised fears of a wider conflict.

* A two-day manhunt ended on Sunday with the arrest of a 57-year-old man for allegedly killing a Minnesota Democratic state lawmaker and her husband while posing as a police officer, Governor Tim Walz said.

* U.S. President Donald Trump's administration is considering significantly expanding its travel restrictions by potentially banning citizens of 36 additional countries from entering the United States, according to an internal State Department cable seen by Reuters.

* When watching energy markets during times of heightened Middle East tensions, it can be helpful to look more at what is not happening, rather than fixating on the dramatic headlines. Read the latest from ROI columnist Clyde Russell.

Markets calm despite Israel and Iran exchanging fire

Israel began its military strikes with a surprise attack on Friday that targeted the top echelon of Iran's military command and damaged its nuclear sites. The move occurred after the United Nations nuclear watchdog declared for the first time in 20 years that Iran was in breach of its non-proliferation obligations.

Iran has vowed retaliation and reiterating Tehran's official stance against developing nuclear weapons. Iran has always said its nuclear program is peaceful, although the Board of Governors of the U.N. International Atomic Energy Agency declared last week that Tehran was in violation of its non-proliferation obligations. Iran's foreign ministry and atomic energy organization said the findings were politically motivated and lacked technical or legal foundation.