Oil surges as Israel attacks Iran, stocks slide: Live Updates
Oil surges as Israel attacks Iran in Middle East conflict, stocks slide with the Dow, S&P 500 and Nasdaq erasing weekly gains. Gold hits new record. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move
Coverage for this event has ended.
Trading Economics
Oil prices jumped to the mid $70 level after Israel attacked Iran, a move that was foreshadowed by President Donald Trump on Thursday.
For the week, Nymex Crude for July delivery gained $8.40 per barrel, or 13.01% to $72.98 on Friday.
LIVE Updates here on this developing situation in the Middle East.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| USO | $78.88 | 3.83 | 5.10 |
| XOM | $111.25 | 1.52 | 1.39 |
| CVX | $145.02 | 0.05 | 0.03 |
| COP | $95.86 | 1.17 | 1.24 |
U.S. Energy Secretary Chris Wright chimed in on the Israel-Iran conflict late Friday via a post on X.
"My team and I @ENERGY are working closely with the NSC to monitor the ongoing situation in the Middle East and any potential impacts to global energy supply. Thankfully, President Trump’s energy dominance agenda has strengthened the energy security of the United States and our allies" he noted.
Trading Economics
In typical flight to safety, investors piled into gold as Israel strikes Iran and Iran retaliated.
The yellow metal hit a new record of $3,500 an ounce before pulling back settling at $3,431.20 this week, a gain of more than 3%.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| GLD | $315.09 | 2.89 | 0.93 |
| NEM | $57.59 | 1.67 | 2.99 |
| AU | $50.57 | 1.75 | 3.58 |
| RGLD | $182.94 | 3.92 | 2.19 |
Traders work on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks are lower on Friday and oil prices spiked after Israel launches large-scale missile attacks on Iran’s nuclear and military sites.
The Dow Jones Industrial Average tumbled more than 800 points, or 2%, while the S&P 500 and Nasdaq Composite fell 1.2% and 1.4%, respectively.
Oil prices jumped to the mid $70 level after Israel's attack on Iran.
Israeli Prime Minister Benjamin Netanyahu confirmed that one of Iran’s top nuclear facilities had been hit in Thursday night's strike against the regime.
The Natanz Nuclear Facility – one of Tehran’s key nuclear sites and which has been flagged by security experts that in coordination with the Fordow Fuel Enrichment Plant, could produce enough weapons-grade uranium to produce 11 nuclear weapons within a month – has been hit in the strikes, though the extent of the damage remains unknown.
U.S. stocks fell further after the Israel Defense Forces (IDF) confirmed on Friday afternoon that missiles were launched from Iran toward Israeli territory.
FOX News Caitlin McFall contributed to this report
Bitcoin, the largest crypto by market value , hovered around the $106,000 level despite investors rotating out of U.S. stocks as the conflict between Israel and Iran escalated: LIVE UPDATES HERE.
Bitcoin has held up well this year, gaining over 14% this year and down slightly from its all-time intraday high of $111986.44 on May 22, 2025.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,565.73 | -,401.89 | -0.94 |
| SP500 | $6,022.30 | -22.96 | -0.38 |
| I:COMP | $19,574.84 | -87.65 | -0.45 |
President Donald Trump defended Israel in its attack on Iran Friday.
"I gave Iran chance after chance to make a deal. I told them, in the strongest of words, to “just do it,” but no matter how hard they tried, no matter how close they got, they just couldn’t get it done. I told them it would be much worse than anything they know, anticipated, or were told, that the United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come - And they know how to use it. Certain Iranian hardliner’s spoke bravely, but they didn’t know what was about to happen. They are all DEAD now, and it will only get worse! There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end. Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire. No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE. God Bless You All!" he posted on Truth Social.
Israel’s attack on Iran early Friday sent global stocks tumbling, led by a selloff in Wall Street futures and a surge in oil prices.
The uncertainty in the Middle East – a major oil producing region – has sent investors scrambling amid uncertainty for financial markets.
Per reporting from Reuters, crude oil jumped around 9%, with Brent futures rallying $6 to $75.36 per barrel and WTI futures $6.16 higher at $74.20 per barrel by 0228 GMT.
Gold climbed 1.5% to about $3,434 per ounce, nearing the record high of $3,500.05 from earlier this year.
U.S. S&P E-mini futures EScv1 slumped 1.7% and Nasdaq futures skidded 1.8%. Pan-European STOXX 50 futures STXEc1 tumbled 1.6%.
Live Coverage begins here