Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

The price of oil surged Friday in one of the market’s largest single-day increases in years, reflecting fears that a wider conflict in the Middle East could lead to serious energy supply disruptions.

The escalation, which killed key Iranian figures, has heightened fears of supply disruptions, particularly through the Strait of Hormuz, a critical chokepoint for 20% to 30% of global oil trade.