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Oil prices surged nearly 7% on Friday to multi-month highs after Israel launched strikes on Iran, prompting retaliation and fueling concerns over potential disruptions to Middle East oil supplies.
Brent crude futures rose $4.57, or about 6.6%, to $73.93 a barrel after touching an intraday high of $78.50 — the highest level since January 27.
Qatar's Prime Minister said on Friday that Doha will work with international and regional partners to urgently stop what it described as aggression against Iran, according to a government statement.
The Prime Minister made the remarks during a phone call with Iran's Foreign Minister Abbas Araghchi, in which the two discussed Israel's attacks on Iranian territory.
"Israel's attacks will certainly not go unanswered, and the gates of hell will soon be opened upon them," new IRGC chief-commander Mohammad Pakpour said.
"Israel will face a painful fate," he added.
A United Nations-backed conference co-hosted by France and Saudi Arabia to advance a roadmap toward a two-state solution between Israel and the Palestinians has been postponed following Israel's military strikes on Iran, Reuters reported on Friday.
A Western diplomatic source in Riyadh said the decision was partly due to the escalating conflict. "The Saudi-French conference is being postponed, in part because of the attacks on Iran," the source said.
A second source familiar said some delegations from the Middle East would not or could not come due to developments.
Chief rabbis in Israel have unprecedentedly advised the public to avoid attending synagogue services on Shabbat and imposed strict limits on funerals, restricting them to 15 minutes and 10 attendees.
This marks a rare move, as religious gatherings have typically continued even during past crises such as the COVID-19 pandemic.
