Oil prices jumped more than 3% after news of explosions near the Iranian city of Isfahan. The Iranian Fars News Agency reported hearing explosions near Isfahan Airport, but confirmed that the causes are still unknown.
The bombings raise fears of the expansion of the war in the Middle East. The global benchmark Brent crude oil traded up 3.63 percent to $90.27 per barrel, while US West Texas Intermediate crude rose 3.66 percent to $85.76 per barrel.
Safe-haven assets also rose as spot gold prices jumped to a new all-time high of 2,411.09 per ounce, while the yen strengthened 0.45% to 153.93 against the US dollar. The Iranian Fars News Agency reported that explosions were heard near the airport in the Iranian city of Isfahan, and flights to Tehran, Isfahan and Shiraz airports were suspended.
QuotesReutersAsian stocks fell along with bond yields on Friday, while safe-haven currencies, gold and crude oil jumped after fears of a broader conflict in the Middle East. MSCI’s broadest index of Asia-Pacific stocks fell 2%, after earlier falling as much as 2.6%, and US stock futures pointed to a 1% decline, tracking part of an initial 1.7% decline.
