Wall Street opened slightly lower while oil and gold rose as Tuesday marked the fifth day of fighting between Israel and Iran, with the risk of a widening conflict dampening risk appetite in a week also packed with key central bank decisions.

Oil traded near a five-month high and most Asian stocks followed US losses on Wall Street as concerns mounted that an escalation of tensions in the Middle East will trigger more direct American involvement.

Oil trading has seen some of its most volatile days in recent history as non-stop missile strikes exchanged between Israel and Iran ratcheted up fears of potential supply disruptions from the Middle E