Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with David Fabert, Sarah Eisen,

and post nine of the New York Stock Exchange. Kramer has the morning off. Global markets are reacting

to Israel's strike on Iranian personnel and nuclear sites. Defense stocks are up. The VIX box above 20.

Oil highest level in about five months. And the bid for Treasury is not as large as some expected. Yields are higher across the curve. Our roadmap this morning is going to begin with Israel striking those nuclear sites. The president urging Iran to make a deal, quote, before it's too late. Markets are reacting to those rising midideast tensions. Oil is spiking, as we said,

goals near a two-month high, and defense stocks, as you might expect, are rallying.

Plus, one of the black boxes in the Air India Boeing Dreamliner crash has been recovered.

As investigators searched the site for any evidence on what could have caused the disaster.

We begin with the global markets under pressure

and energy prices spiking, all in reaction to Israel's preemptive strikes on Iran's nuclear

facilities. At one point, we did have crude soaring more than 13% in the wake of those attacks,

currently up almost 9% on a weekly basis for Brent in particular, Sarah. This is going to be in the top 20

gains on a week for Brent since the mid-1980s. And yet it could have been worse. And some of the

themes from the notes this morning from the from the analysts that cover oil say actually we don't

expect a prolonged impact here when it comes to oil. Goldman Sachs,

while we have a higher geopolitical risk premium, we still assume no disruptions to our oil supply

in the Middle East, and our forecast remains that strong supply growth outside of U.S. shale

will reduce Brent prices to $59 in 2025 by Q4. Bottom line, there are still so much we do not know.

We do not know what comes next.

There is a sense that this will be more prolonged.

We've heard that from both Prime Minister Netanyahu, also from President Trump, and any of the

spokespeople out of the IDF, that this is sort of the beginning.

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