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U.S. oil prices rallied Friday and were on track to set a record weekly gain of 35%, as the Middle East begins to feel a squeeze in production and storage capacity as the Iran conflict runs through a seventh day.
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Market movements this week had already been choppy as investors weighed the inflationary impact of the conflict in the Middle East. On Friday, the jobs report complicated matters.
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Robinhood's Venture Fund I plunged 11% in its debut on the New York Stock Exchange on Friday, casting doubt on investors' appetite for riskier investment.
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The price of a gallon of gasoline hits its highest level in a year and a half on Friday. Surging oil prices suggest that the increases will continue.
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