Oil prices surge after Israel's attack on Iran. Trump urges Iran to 'make a deal before there is nothing left'

Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel. (Credit: Bill Pugliano—Getty Images)

• JPMorgan fears crude oil could hit a high of $130 a barrel, causing U.S. inflation to return to 5% in a worst-case scenario. President Trump urged Iran to strike a deal before further attacks by Israel, but tensions are likely to remain high as Israeli leaders across the political spectrum support the attack.

Crude oil prices soared their most in over five years on Friday after Israeli airstrikes on Iran put the Middle East on the brink of war, threatening President Trump’s efforts to bring down inflation.