Israel’s surprise military strike on Iran has jolted oil markets and cast fresh attention on the recent production decisions by Saudi-led Opec+, sparking debate over whether Riyadh ramped up oil output to support US strategic aims in the region, the Financial Times reported.

Oil prices climbed on Monday, extending Friday's rally, as renewed strikes by Israel and Iran over the weekend increased concerns that the battle could widen across the region and significantly disrupt oil exports from the Middle East. Julian Satterthwaite reports. EXCLUSIVE: Guardiola dreams of World Cup glory but has no plans to leave City

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.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

Oil futures soared in electronic trade late Thursday after Israel's attack on Iran, with West Texas Intermediate crude, the U.S. benchmark, up nearly 10% in electronic trade on the New York Mercantile Exchange.