Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households.

Global air traffic has been disrupted following Israel’s strikes on Iran Friday, with several major airlines suspending flights to and from locations in the Middle East and rerouting their planes to avoid much of the region’s airspace.

Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict.

President Donald Trump confirmed on Wednesday that U.S. personnel are being "moved out" of parts of the Middle East amid escalating tensions with Israel and Iran.

The US State and Defense departments on Wednesday made efforts to arrange the departure of non-essential personnel from locations around the Middle East, according to US officials and sources familiar with the efforts.

What Happened in Markets Today Israel launched a broad air campaign against Iran, targeting its nuclear capabilities and military/political leadership. Markets were rattled after Israel said it had detected dozens of missiles launched from Iran and was working to intercept them.

Gold prices climbed on Friday to their highest point in more than a month, on track for a weekly gain, as investors sought safe-haven assets after Israel's strike on Iran heightened Middle East tensions.