TEL AVIV – Middle East sparks market volatility, and oil prices climb up, while stocks plunge. Blasts rocked Israeli capital Tel Aviv as sirens blare on Friday night after what the country’s military spokesman said barrage of missiles from Iran.
Global stock markets declined sharply while oil prices moved up in wake of Israel’s military strikes on Tehran, prompting investors to flock toward safe-haven assets like bullion and US dollar amid rising geopolitical tensions.
The attacks raised concerns about potential disruptions to oil and gas supplies from Middle East. On Friday, Brent crude futures jumped more than 13pc intraday before settling 7pc higher at $74.23 per barrel. US crude prices closed up 7.6% at $72.98 per barrel. Meanwhile, US natural gas prices increased nearly 3%, and European gas climbed over 5% to its highest level in 10 weeks.
| Oil | Change | Closing Price |
| Brent Crude | +13% | $74.23 per barrel |
| US Crude (WTI) | +7.62% | $72.98 per barrel |
Gold, traditionally viewed as a refuge during uncertain times, rose 1.4% to $3,431 per ounce, nearing the record highs seen earlier this year.
Investors moved away from risk assets amid the turmoil. Major US indices saw declines, with the Dow Jones Industrial Average dropping 1.8%, the S&P 500 falling 1.1%, and the Nasdaq Composite losing 1.3%. European markets slid 0.9%, hitting their lowest levels in three weeks, while key Asian markets, including Japan, South Korea, and Hong Kong, dropped more than 1pc.
The heightened tensions in the oil-rich Middle East add fresh uncertainty to global markets already under pressure from unpredictable trade policies. Experts warn that the conflict may further destabilize the economic landscape.
As the situation continues to evolve, investors remain cautious, closely watching developments in the Middle East and potential ripple effects on the global economy.
‘Grave and highly irresponsible’ – Pakistan PM slams Israel over unprovoked attack on Iran
