Oil prices jumped 8% on Friday after Israel conducted airstrikes on Iranian nuclear and military facilities, with Brent crude reaching nearly $74 per barrel.
Israeli Prime Minister Netanyahu stated Israel would continue strikes “for as many days as it takes,” while President Trump urged Iran to negotiate over its nuclear program.
As OPEC’s third-largest producer, Iran’s oil exports of 1.6-1.8 million barrels daily face potential disruption, creating uncertainty in global energy markets.