Iran, Israel and Oil
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Oil prices soared on Friday as tensions in the Middle East flared, with Israel attacking Iranian military and nuclear targets and Iran retaliating.
Gas prices "will likely start to rise across much of the country later this evening in response to Israel's attacks on Iran, which have caused oil prices to surge," Patrick de Haan, the head of petroleum analysis at GasBuddy, said on Friday in a post on X.
Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine.
Diamondback Energy stock rose 5% and Occidental Petroleum rose nearly 5% as a swathe of energy-related stocks reacted to a jump in crude prices after Israel's attack on Iran. Conoco-Phillips' stock rose 4%, ExxonMobil rose 3% and Chevron gained 2.7%.