'It's never likely to be good news for the markets when 'World War III' is trending on Twitter.'
A US strike on a top military leader in Iran ignited fears of spiraling military conflict, leading oil to surge about 4%.The airstrike killed Iran's elite Quds force commander, Maj. Gen. Qassem Soleimani, the US confirmed on Thursday night.
"To many in the Middle East, this may be deemed a declaration of war," Helal Miah, investment research analyst at The Share Centre, said in an email. "A rise in oil prices ... is just what the global economy needs to avoid at this time where growth is fragile."Brent crude each rallied at least 4% on the news, before paring those gains early London time. WTI was up about 3.4% to $63.27 a barrel, while Brent gained 3.5% to about $68.53.
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