Oil jumps 3%, spot gold hits record high after Israel launches strikes on Iran

Oil prices jumped more than 3% on Friday in Asia following reports that Israel had carried out an operation in Iran.

A U.S. official told NBC News that Israel is conducting an operation in Iran.

Global benchmark Brent traded 3.63% higher at $90.27 a barrel, while the U.S. West Texas Intermediate rose 3.66% to $85.76 per barrel.

Safe haven assets also rose. Spot gold prices surged to a fresh all-time high of 2,411.09 per ounce, while the yen strengthened 0.45% to 153.93 against the U.S. dollar.

Iran’s Fars news agency reported that explosions were heard near the airport in the Iranian city of Isfahan, and flight tracking site Flight Radar 24 showed that multiple flights were diverted over Iranian airspace early Friday.

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