Oil prices rallied and equities fell Friday as reports said explosions had been heard in Iran and Syria, fuelling fears of an escalation of the Middle East crisis after last weekend’s missile attack on Israel by Tehran. The reports followed another batch of data indicating the US economy remained in rude health and compounded concerns that the Federal Reserve will hold off cutting interest rates this year or even hike them again. Traders have been on edge since Saturday’s retaliatory strike by Iran against Israel, which Israel’s army chief General Herzi Halevi warned would be met with an attac…