Oil prices surged and stocks slumped on Friday in the immediate hours after Israel began an attack on Iran targeting nuclear sites and senior military officers. The strike stoked concern among investors about a possible wider conflict across the Middle East,

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Emergency services say 10 have been killed in Israel, while Iranian state media has given little information about casualties in Iran.

Any disruption in Iran's oil production may impact global prices as Saudi Arabia and UAE are the only Opec+ members that can boost output.

Israel's attack on Iran sparked the biggest jump in crude oil prices since Russia's invasion of Ukraine more than three years ago. Stocks fell sharply.

An Israeli drone strike on Irans South Pars gas field—the worlds largest—has triggered a serious energy disruption and widened the conflict. The fire damaged one of the processing units in Phase 14, halting 12 million cubic metres of gas output.