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International Business Times

Business

Oil Prices Soar, Stocks Slide After Israel Strikes Iran

Israel Oil Iran Matthew Ryan Steve Sosnick Tehran

Airlines halted flights to and from Tel Aviv and other Middle East airports following Israel's strikes in Iran (Credit: AFP)

Oil prices soared and stocks sank Friday after Israel launched strikes on Iran, prompting retaliation from Tehran and stoking fears of a full-blown war.

Oil futures rocketed more than 13 percent at one point before coming back to gains nearer seven percent, reigniting worries about a renewed spike to inflation.

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