Global oil prices have had their largest single-day percentage increases in years, reflecting fears that a wider conflict in the Middle East could lead to serious energy supply disruptions.

US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.

Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of war between the two countries and broader instability in the Middle East.