Global Markets Surge Amid Middle East Tensions and U.S. Jobs Data Anticipation

Global stock markets rose while oil prices reached near-record weekly gains due to Middle East tensions. Ahead of the crucial U.S. jobs report, investors exhibited caution. Oil prices surged following potential U.S. actions against Iran. Japan's market faced volatility, and U.S. ports resumed operations after resolving a major strike.

Global stock markets saw an uptick on Friday, driven by rising oil prices amid escalating Middle East tensions. Investors remained cautious ahead of the pivotal U.S. nonfarm payrolls report, which could influence upcoming monetary policies.

Significantly impacting the market were potential U.S. strikes on Iran's oil facilities, following recent regional conflicts, causing a jump in oil prices. Brent crude and U.S. futures reported notable gains, indicating possible disruptions in global oil supplies.

Meanwhile, Japan's stock market experienced turbulence due to geopolitical worries and domestic economic policies. Additionally, U.S. ports reopened after a prolonged strike was resolved, affecting global freight charges and market dynamics.

(With inputs from agencies.)