Oil prices rose more than 9% on Friday, reaching the highest level of almost five months, after Israel hit Iran, dramatically escalating tensions in the Middle East, increasing concerns about oil supply.

Brent crude -type contracts scored $ 6.29 or $ 9.07% at $ 75.65 a barrel, reaching the high $ 78.50 in intra -conference, higher than January 27th. The US Slow West Texas Intermediate rose $ 6.43 or $ 9.45% to $ 74.47 a barrel after a high $ 77.62, highest since January 21st.

Friday’s rise is the largest after Russia’s invasion of Ukraine, causing energy prices to eject.

Israel said it has targeted Iran’s nuclear facilities and ballistic missile factories on Friday, at the beginning of a prolonged operation, as he warned, to prevent Tehran from constructing an atomic weapon.

“This has greatly increased geopolitical uncertainty and requires the oil market to invoice a greater risk premium for any possible supply disorders,” IG analysts, led by Warren Patterson, said in a note.

Several oil analysts in Singapore said it is still too early to say if the blow will affect oil transport in the Middle East as it will depend on how Iran will retaliate and whether the US will intervene, Reuters notes.

“It’s too early to say, but I think the market is worried about the closure of Ormuz’s strait,” one of the analysts said.

MST Marquee’s Senior Energy Analyst, Saul Kavonic, said Iran could limit up to 20 million barrels daily the supply of oil through infrastructure attacks or by limiting the passage of Ormuz’s straits to an extreme scenario.

In other markets, the shares fell in the early Asian transactions, guided by the sale of US time -limits, while investors rushed to safe shelters such as gold and Swiss franc.