Oil Prices Surge Over 8% as Iran Retaliates With Major Missile Strike on Israel

Brent crude surged more than 8% on Friday, peaking at a 13% intraday gain, after Iran launched a wave of missile strikes on Israel in retaliation for the Israeli Air Force’s targeted assault on Iranian nuclear and military infrastructure. The sudden escalation has jolted energy markets already grappling with rising geopolitical risk across the Middle East. The Iranian strike, described by Israeli officials as involving up to 150 ballistic missiles in two waves, targeted multiple sites across Israel according to the Jerusalem Post. While Israeli…