Oil prices Surge Over 4 Per Cent After Iran’s General Killed In US Strike

Oil prices on Friday surged over four per cent following claims that the US strike killed a top Iranian general, fuelling fears of a conflict in the oil-rich region. According to a report of PTI, Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84.

Meanwhile, equities sank into the red. In the opening session, the 30-share index was trading 107.35 points or 0.26 per cent lower at 41,519.29. Also, the NSE Nifty was quoting 39.10 points, or 0.32 per cent, down at 12,243.10. On the other hand, Hong Kong fell 0.2 per cent, while Shanghai shed 0.1 per cent. Singapore retreated 0.2 per cent, Seoul lost 0.1 per cent and Taipei eased 0.3 per cent. However, Sydney, Wellington, and Manila were trading in green.

It is worth mentioning here that the rise in oil prices will lead to commodities including petrol, diesel and others go more expensive.

Today early morning, at least 8 including top Iran and Iraq commanders of Hashed military force were killed in the US airstrike at Baghdad's international airport. In the strike, Gen Qassim Soleimani and Abu Mahdi al-Muhandis were killed. It should be noted that Gen Qassim Soleimani was the head of Iran's elite Quds Force while Abu Mahdi al-Muhandis was the deputy commander of Iran-backed militias known as the Popular Mobilization Forces (PMF).

Later, US President Donald Trump tweeted a picture of the American flag, and the Pentagon said he had ordered Soleimani's killing.

Also Read: Soleimani’s Assassination 'Foolish Escalation', US Bears Responsibility For All 'Consequences': Iran

Iranian Foreign Minister Mohammad Javad Zarif said, “The US' act of international terrorism, targeting and assassinating General Soleimani is extremely dangerous and a foolish escalation. The US bears responsibility for all consequences of its rogue adventurism.”

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