A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.

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.

Oil prices edged lower on Thursday, as traders assessed whether the previous day's jump to the highest prices in more than two months had adequately priced in risks for crude oil supply from mounting tensions in the Middle East.