A view of oil-well in action during sunset at Elk Hills Oil Field as gas prices on the rise in California, United States on April 14, 2024.
Tayfun Coskun | Anadolu | Getty Images
Oil prices jumped more than 3% after unconfirmed reports of explosions near the Iranian city of Isfahan.
Iran’s Fars news agency reported that explosions were heard near the Isfahan airport, but emphasized that the reasons were unknown.
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.
Save 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.
Flight tracking site Flight Radar 24 showed that multiple flights were diverted over Iranian airspace early Friday.
This is is breaking news. Please check back for updates.