Crude Oil Prices Rise After Killing Of Iran Top General By US Military

Crude Oil Prices Surge Close To $70 After US Kills Iran General

General Qasem Soleimani was killed days after protesters attacked the U.S. embassy in Baghdad (image courtesy: Reuters)

There was a sharp increase by 4% on crude oil prices on Friday following the killing of a top Iranian general in an airstrike by the United States military.

Brent crude futures, the international benchmark for crude oil, stood at $69.01 per barrel, an increase of 4.17%.

US West Texas Intermediate (WTI) also stood at $63.34 per barrel, a 4% increase.

The Pentagon said the attack was carried out on the order of President Donald Trump to deter “future Iranian attack plans”.

It added that Soleimani was killed because he “was actively developing plans to attack American diplomats and service members in Iraq and throughout the region”.

The airstrike comes days after an Iran-backed militia and its supporters breached the US embassy in Baghdad.

Iraqi Popular Mobilisation Forces (PMF) confirmed that Abu Mahdi al-Muhandis, deputy head of the force, was also among those “martyred by an American strike”.

In September, oil prices increased by 14% after coordinated attacks were carried out on Saudi Arabia’s oil facilities which cut off 5% of global oil supplies.


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Donatus Anichukwueze is a journalism graduate from the Lagos State University, School of Communication. He's a writer with a special interest in technology, sports, entertainment and politics. He's also a through-and-through Chelsea FC fan.


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