Global oil prices soar after Israel attacks Iran

Global oil prices jumped after Israel said it had struck Iran, in a dramatic escalation of tensions in the Middle East. Benchmark oil contracts, Brent Crude and Nymex light sweet, were up by more than 10% after the news emerged. Traders are concerned that a conflict between Iran and Israel could disrupt supplies coming from the energy-rich region. The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.