Oil prices surge, markets mixed after U.S. kills Iran general
The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran’s top general., head of Iran’s elite Quds Force, was killed in an air attack at the Baghdad international airport prompted expectations of Iranian retaliation against U.S. and Israeli targets.
The international benchmark for crude oil jumped 4.1%, or $2.70, to $68.95 a barrel in London trading.“Revenge will come, maybe not overnight but it will come and until then we need to increase the geopolitical risk premium,” said Olivier Jakob, head of consultancy Petromatrix, in a note to investors.In September, Yemen’s Iran-backed Houthi rebels launched drone attacks on the world’s largest oil processing facility in Saudi Arabia.
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