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Oil prices rise, stocks slide as Iran-Israel tension escalates

Unidentified men are carrying a model of Iran's first-ever hypersonic missile, Fattah, past a mosque during a gathering to celebrate the IRGC UAV and missile attack against Israel, in Tehran, Iran, on April 15, 2024. [AFP Photo]

Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold.

Iran's state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its arch-rival.

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