NEW YORK - Oil prices surged and major stock markets mostly retreated Thursday as investors reacted to fears of widening conflict in the Middle East.Prices jumped after US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's missile barrage on Israel.Brent, the international benchmark, surged more than five percent to $77.62 a barrel, with US contract West Texas Intermediate rising similarly.
More than 1,000 people have so far been killed in the Israeli bombardment of Lebanon, which has included strikes on Beirut.Israel's military said Thursday it had hit Hezbollah's intelligence headquarters in the Lebanese capital, as troops battled militants near the border and warplanes dropped bombs around the country.
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