Global oil prices has surged today following the killing of Hamas’s top political leader, Ismail Haniyeh, in a drone strike on his residence in Tehran, Iran.
Haniyeh, a key figure in the Palestinian Islamist group, was reportedly assassinated in a precision strike carried out by an unidentified aircraft.
According to ROUTERS report, “This assassination by the Israeli occupation of Brother Haniyeh is a grave escalation that aims to break the will of Hamas“ thus raising fears that it could culminate in crisis, capable of affecting oil production and export in the Middle East.
The prices were relatively low at below $80 per barrel in the past seven weeks but suddenly shot up after he was reported dead.
The prices of Brent and WTI currently stand at $80.79 and $77.29 per barrel, respectively, in the international market.
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