Oil Prices Divide Global Markets Amid Iran Conflict

Oil prices have fluctuated amid escalating Iran conflict with attacks on Gulf energy facilities. Brent crude briefly hit $119, later settling near $108. This geopolitical tension raises concerns about energy supply and global inflation. US futures edged up, while Asian and Wall Street markets reflected mixed responses.

Oil prices experienced a volatile trading session as geopolitical tensions between Iran and Israel intensified. Brent crude's brief surge to $119 a barrel highlights the market's sensitivity to Middle Eastern conflicts, especially with strategic sites in the Gulf targeted.

Early Friday saw a 0.4% drop to $108.19 for Brent crude, as diplomatic efforts seemed to offer a reprieve, notably when Israeli Prime Minister Netanyahu indicated a pause in hostilities on U.S. President Trump's request.

Markets globally have been roiled, with Asian shares reacting to Wall Street's losses, alongside notable shifts in commodities with gold and silver prices rising, driven by inflationary fears.