Crude oil futures jumped as much as 13% Thursday evening after Israel launched airstrikes against Iran without U.S. support. U.S. West Texas Intermediate was last up 8.23% at $73.65 per barrel, while global benchmark Brent surged 7.

The military strikes jolted investors, raising concerns that a broader Mideast conflict would disrupt the world’s energy supplies.

Trump’s tariffs and the latest trade deal with China continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

US stock futures fell on Friday as an Israeli attack on Iran's nuclear program sites shook global markets, leading oil prices to spike and driving a rush to sale havens such as gold. "We struck at the heart of Iran's nuclear enrichment program" and ballistic missile program,

Higher crude prices squeeze Indian oil refiners as they have largely kept retail fuel prices unchanged in the domestic market despite volatility in the international market.

The FTSE 100 index, which yesterday set a record close of 8884.92, is seen down by 0.5%. In Asia, the Nikkei 225 and Hang Seng index have fallen by about 1%.

The price of oil surged after Israel launched a wave of strikes in Iran, killing the head of its army and raising the risk of war in the Middle East. Brent crude jumped by as much as 13pc to more than $78 a barrel - its biggest intraday gain since the early days of the Ukraine war in March 2022 - as uncertainty ramped up in global markets.

The military strikes jolted investors, raising concerns that a broader Mideast conflict would disrupt the world’s energy supplies.

Analysts are making credible arguments that oil could slump into the $40s—or soar to $120. Even for a commodity with a volatile history like oil, that price range is remarkable. Late on Wednesday, Brent crude,