Brent crude prices hit the highest level since January after IDF strikes on Iran prompts fears of retaliation that could impact global energy supplies.

Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of war between the two countries and broader instability in the Middle East.

US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.

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.

Oil futures gained more than $4 a barrel Friday after Israel launched a wide-ranging attack against Iran’s nuclear facilities and military leadership, stoking fears of a regional conflict that could disrupt global energy flows.

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.

Israel launched a series of airstrikes across Iran early Friday, targeting critical nuclear facilities in Iran.