By Saqib Iqbal Ahmed, Suzanne McGee and Linda Pasquini NEW YORK/GDANSK (Reuters) -Investors were on edge ahead of markets reopening late on Sunday, with risks ranging from heightened prospects of a broad Middle East war to U.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Iran’s oil ministry has confirmed that the Shahran fuel and gasoline depot was hit and set afire during the Israeli attack on Saturday night. A major fire is burning, witnesses say. The depot, with at least 11 storage tanks, is in an affuent affluent neighborhood of luxury high-rises.

Crude futures jumped more than $5 a barrel on Friday after Israel launched airstrikes against Iran without U.S. support.

Benchmark U.S. crude futures rose by more than 10% to trade above $75 a barrel, the highest price since January and before President Trump's April tariff announcements had energy traders penciling in slower economic growth and lower fuel demand.

US stocks fall on Israel-Iran worries, with Dow down xxx pts. Oil rises on supply worry. Gold hit a record high and US dollar rises on flee to safety.

Salem predicts that this attack may push Iran to make a deal with the U.S, "the outlines of which might be that Iran accepts to forgo enrichment inside Iran, with a big deal with the U.S. and the U.S. lifts sanctions on Iran and that could obviously lead to a sudden and rapid decline in oil prices, so one has to keep that in mind."

U.S. oil benchmark prices climbed roughly 7% to about $73 a barrel, the highest level since early April. U.S. government borrowing costs climbed. Tech stocks like Nvidia and Tesla moved lower, while shares in oil and defense-industry firms like Chevron, Lockheed Martin, and Palantir traded up.

Oil prices soared on Friday as tensions in the Middle East flared, with Israel attacking Iranian military and nuclear targets and Iran retaliating.

The sweeping attacks by Israel, which began early Friday, have killed more than 70 people, including four of Iran’s top security chiefs, and damaged Iran’s main nuclear site at Natanz. Iran retaliated by launching scores of missiles at Israel. At least three people have been killed and dozens more wounded during these attacks.