Oil prices jump by 7 % and US stocks decrease more than 1 % on concerns about the crude market

New York (AP) – Oil prices jumped, and the shares fell on Friday fears of the escalation of violence after that Israel’s attack on Iranian nuclear and military targets It can harm the flow of crude around the world, along with the global economy.

The S&P 500 sank by 1.1 % and flipped what was a modest gain for this week. The Dow Jones industrial average decreased 769 points, or 1.8 %, and Nasdaq lost 1.3 %.

It was the most powerful work in the oil market, as the price of a barrel of prominent American crude jumped by 7.3 % to $ 72.98. Brent crude, the international standard, increased by 7 % to $ 74.23 a barrel.

Iran is one of the world’s leading oil producers, although the sanctions made by Western countries have limited their sales. If a wider war broke out, Iran’s oil flow may slow down and maintain the price of crude and gasoline is higher for all around the world.

Outside the oil coming from Iran, analysts also indicated that disturbances may occur in the Strait of Hormuz, a relatively narrow waterway off the coast of Iran. Many of the world’s pulled oil from the ground is moving on the ships.

The previous attacks on Iran and Israel witnessed prices for oil height at the beginning, just to fall later “as soon as it became clear that the situation was not connected and there was no effect on oil supplies,” according to Richard Josewick, the head of the near -range oil in the S& PLOBAL COMMODITY Insights.

This has Wall Street waiting to see what will come after that. The price of stocks in the United States decreased to its lowest points for the day after Iran fired ballistic missiles towards Israel.

Currently, the oil price jumped, but it is still less than it was earlier this year. “This is an economic shock that no one really needs, but it is a shock that appears to be a shock to feelings more than the basics of the economy,” said Brian Jacobsen, the chief economist at Annex Wealth Management.

This, in turn, sent the stocks to a loss that was noticeable in size, but outside the top of 15 of this year so far.

Companies that use a lot of fuel as part of their business and need that their customers feel sufficient to travel in some of the most dangerous losses. The carnival decreased by 4.9 %. United Airlines sank 4.4 %, and Norwegian flight lines decreased by 5 %.

They have helped overcome the gains of American oil producers and other companies that could benefit from fighting between Israel and Iran.

Exxon Mobil increased by 2.2 %, and gain 2.4 % Conocophillips because the price of jumping from raw jump make greater profits for them.

The contractors who make weapons and defensive equipment also gathered. Lockheed Martin, Northrop Grumman and RTX rose more than 3 %.