Topline
Global crude oil prices jumped sharply while US stock futures fell early on Friday after Israel conducted a round of military strikes against Iran’s nuclear program and military leadership, marking a significant escalation of tensions in the Middle East region.
People look over damage to buildings in Nobonyad Square following Israeli airstrikes in Tehran, ... More
The global benchmark Brent Crude Futures index briefly touched $78 per barrel, up 13% from the previous day—the biggest single-day jump since the early days of Russia’s invasion of Ukraine, according to Bloomberg.
At the time of publishing, prices settled at $74.4 per barrel, which is more than 7% from the previous day.
The U.S.’s West Texas Intermediate benchmark also surged by more than 7% to nearly $73 a barrel.
US stock futures took a hit in early trading, with S&P 500 Futures slumping 1.2% to 5,977.50 points, while Dow Futures slid 1.15% to 42,816 points.
The tech-focused Nasdaq futures fell nearly 1.5% to 21,833 points.
This is a developing story.