Oil prices soared and U.S. stocks fell sharply Friday as investors reacted to rising geopolitical tensions following Israel’s strikes on Iranian nuclear and military facilities. The escalation raised fears of disruptions to global oil supplies and broader economic fallout.

There are palpable fears that the escalating tension in the Middle East could drive up energy costs in Nigeria as crude oil prices continue to surge.

0849 ET - The Trump administration's goal of achieving lower oil prices will likely be complicated by Israel's strikes against Iran, which lifted Brent to $78.50 overnight, Citi analysts say in a ...

Crude oil prices surged by more than 8% on Friday to hit 4-month highs after Israel’s attacks on Iran’s nuclear sites sparked supply concerns. Friday’s spike in crude oil prices is the largest single-day rise since Russia attacked Ukraine in 2022.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

including 25 years at Dow Jones and The Wall Street Journal. Michael Nagle / Bloomberg / Getty Images Stock futures fell sharply and oil prices soared Friday morning as Israel launched strikes ...

0513 GMT - Israel's strike on Iran has put geopolitical worries back on the agenda, sparking sizeable risk-off moves, but that doesn't mean market participants should tear up long-term views, says ...