Oil prices have resumed their upward climb and U.S. futures are lower after Israel's military issued an evacuation warning to 330,000 people in Iran's capital Tehran.

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.

President Trump's trade policies keep grabbing the spotlight, along with the Israel-Iran conflict. Follow along for the latest updates on markets, including the Dow industrials, S&P 500 and Nasdaq Composite.

The rally came as oil prices retreated from recent highs amid reports that Iran seeks to de-escalate tensions with Israel.

Israel's attack on Iran sparked the biggest jump in crude oil prices since Russia's invasion of Ukraine more than three years ago. Stocks fell sharply.

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.