Crude oil prices surged sharply while global stocks fell, as investors reacted to the fallout from the US-Israeli attacks on Iran.

Brent crude climbed as much as 13 percent in Asia on Monday morning before easing slightly, with the international benchmark trading around $76.48 per barrel by midday Tokyo time, up about 5 percent.

Asian equities opened lower, with Hong Kong’s Hang Seng Index down roughly 2 percent and Japan’s Nikkei 225 falling about 1.5 percent.

In the US, stock futures—which trade outside regular market hours—showed notable declines, pointing to a volatile session ahead on Wall Street. Futures tracking the S&P 500 and Nasdaq Composite both fell roughly 0.7 percent.

Iran continues to strike US assets across the Gulf after the killing of Supreme Leader Ayatollah Ali Khamenei and up to 40 top Iranian officials.

The attacks have killed one person in Bahrain, with Iraq and Kuwait reporting more Iranian raids.

Israel says it is striking at the ‘heart of Tehran’ and is launching attacks on Lebanon after Hezbollah fired a barrage of rockets at northern Israel.

Iranian state media says Israeli attacks have killed at least 20 people in Tehran’s Niloofar Square and caused damage to the Gandhi Hospital and a police building.”

Iran’s retaliatory strikes on Israel have hit the cities of Tel Aviv and Jerusalem, and killed at least nine people in the central city of Beit Shemesh.

US President Donald Trump has warned that attacks on Iran will continue until all of Washington’s objectives are achieved, and has promised to avenge the deaths of three American soldiers.

Source: Al jazeera