Oil prices have also risen as attacks on energy facilities in the Middle East have increased, raising fears of major disruptions to global supply.
The price of Brent crude oil rose nearly 7% this morning, exceeding $114 per barrel.
This means it is approaching the highest level since the conflict escalated at the end of February.
Prices rose sharply overnight after Qatar said on Thursday that Iranian missile strikes had hit the liquefied natural gas field Ras Laffan, ‘causing large fires and further damage’.
This follows reports that Israel has launched an attack on Iran’s South Pars gas field.
US President Donald Trump said he “knew nothing” about Israel’s attack and did not want to allow “this level of violence and destruction.”
