Oil prices surge to highest level since April after US kills Iran’s top commander in airstrike

Oil prices surge to highest level since April after US kills Iran’s top commander in airstrike

Jan 3, 2020
Oil prices surged 3% on Friday following confirmation by the Pentagon that Iran’s top commander was killed in a U.S. airstrike in Baghdad, raising concerns of a bigger conflict between the two countries that could disrupt energy production in the region.
The U.S. military took the “decisive defensive action to protect U.S. personnel abroad by killing Qasem Soleimani,” a statement by the U.S. Department of Defense said Thursday night. It was a directive from the U.S. president, the DOD said.
International benchmark Brent crude gained $2.42, or 3.6% to trade at $68.67, after earlier trading as high as $69.50. U.S. West Texas Intermediate gained $1.87, or 3%, to settle at $63.05 per barrel. Earlier in the session WTI traded at $64.09, its highest level since April.
Read more at https://www.cnbc.com/2020/01/03/oil-prices-surge-after-reports-that-a-key-iranian-general-was-killed-in-iraq-airstrike.html

Oil price jumps, stocks fall on fear of Iranian retaliation against US

In previous flare-ups with the US, Iran has threatened the supply of oil that travels from the Persian Gulf to the rest of the world
Jan. 3, 2019
The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed a top Iranian general.
News that Gen. Qassem Soleimani, head of Iran’s elite Quds Force, was killed in an air strike at the Baghdad international airport prompted expectations of Iranian retaliation against US and Israeli targets.
In previous flare-ups in tensions with the US, Iran has threatened the supply of oil that travels from the Persian Gulf to the rest of the world. About 20 percent of oil traded worldwide goes through the Strait of Hormuz, where the shipping lane is only 3 kilometers (2 miles) wide and tankers have come under attack this year.
Read more at https://www.timesofisrael.com/

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Gold spikes after U.S. air strike kills Iranian senior commanders

By Michael McCrae
January 02, 2020
Gold ran up $10 to just over $1,540 ounce, hitting a four-month high in evening trading, after news that the U.S. killed Iranian senior commanders in a Bhagdadi air strike.
The head of Iran’s elite Quds Force, Major-General Qassem Soleimani, was killed after a U.S. air strike on his convoy, which was leaving the Bhagdad airport. Iranian officials confirmed the killing.
President Trump ordered the attack.
Read more at https://www.kitco.com/