Israel attack on Iran sparks jump in global oil prices

Oil prices in the international market jumped by more than 9 per cent on Friday after Israel’s attack on Iran’s nuclear facilities and missile production sites led to a further escalation in geopolitical tensions in the Middle



East.

The price of benchmark Brent crude surged by over $6 to cross a five-month high of $78 per barrel.

Israel has further declared a state of emergency, expecting retaliation from Iran.