Oil prices jumped more than 9% on Friday, hitting their highest in nearly five months after Israel launched a strike on Iran, sharply escalating tensions in the Middle East and raising fears of oil supply disruptions.U.S. WTI crude rose to settle around $74.00 a barrel after peaking above $77.00, its highest since the start of the year. It is the biggest intraday rise since 2022.Several oil traders in Singapore said it was too early to say whether the situation would affect oil supplies from the Middle East, as it all depends on the response and potential intervention by the United States.