Global oil prices surged by over 10% following reports that Israel had attacked Iran, escalating tensions in the Middle East.

• Benchmark oil contracts, Brent Crude and Nymex light sweet, experienced significant price increases.
• Analysts, including Vandana Hari of Vandana Insights, warn of potential retaliation from Iran that could disrupt oil supplies.
• The Strait of Hormuz is a critical shipping route, with about a fifth of the world's oil passing through it, heightening supply risk if conflict escalates.

Boeing is currently in contact with Air India following the crash of Flight 171, which occurred shortly after takeoff from Ahmedabad, Gujarat. This incident marks the first crash of a Boeing 787 Dreamliner.

• Flight 171 had 242 people on board, including 2 pilots and 10 cabin crew members.
• Boeing: "Our thoughts are with the passengers, crew, first responders and all affected."
• The flight departed at 13:38 local time (0738 GMT) on Thursday.

On June 13, the tragic crash of an Air India flight in Ahmedabad raises concerns for Boeing, particularly its 787 Dreamliner, which had celebrated its billionth passenger milestone just last month.

• Boeing shares fell nearly 5% following the crash news.
• Kelly Ortberg, CEO of Boeing, expressed condolences and support for the investigation.
• The incident highlights ongoing scrutiny of Boeing's safety culture after previous crises, including the 737 Max grounding due to software faults.