Oil jumps 3%, spot gold hits record high after Israel launches strike in Iran

Key Facts

• Tayfun Coskun | Anadolu | Getty Images Oil prices jumped more than 3% on Friday after Israel carried out a military strike on Iran, triggering fears of an expanding war in the Middle East.
• “The U.S. should avoid further entrapment in Israel’s efforts to drag U.S. military forces into a broader war with Iran,” said Sarah Leah Whitson, executive director of Democracy for the Arab World Now, or Dawn.
• Israel’s decision to attack Iran in spite of pleas from its primary backers is a “clear indicator of how irresponsible and unaccountable the Israeli government is,” she added.
• A disruption or closure of the Strait of Hormuz, a key chokepoint which sits between Iran and Oman and through which one-fifth of global oil production flows daily, would also cause oil prices to shoot higher.

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