Market Overview

US Airstrike In Baghdad Kills Key Iranian Military Leader, Oil Prices See Sharp Gains

Share:
US Airstrike In Baghdad Kills Key Iranian Military Leader, Oil Prices See Sharp Gains

A key Iranian military leader was among the seven people killed in a U.S. airstrike at the Baghdad International Airport, Reuters reported late Thursday citing local sources.

What Happened

The U.S. launched three rockets targeting the convoy of Qassem Soleimani, the head of Iran's elite Quds Force, a spokesperson for Iraq's state-backed militia consortium Popular Mobilisation Forces told Reuters.

Soleimani was killed in the strikes, alongside Iraq Military commander Abu Mahdi al-Muhandis and five other paramilitary members.

"The American and Israeli enemy is responsible for killing the mujahideen Abu Mahdi al-Muhandis and Qassem Soleimani," the spokesperson told Reuters.

Why It Matters

The strikes come less than a week later after President Donald Trump warned of holding Iran "fully responsible" for any attacks against U.S. facilities or citizens.

"Iran will be held fully responsible for lives lost, or damage incurred, at any of our facilities. They will pay a very BIG PRICE! This is not a Warning, it is a Threat. Happy New Year!" Trump said on Twitter on Tuesday.

Last Sunday, the U.S. forces carried out five strikes at bases controlled by Iran-backed Shia militia Kata'ib Hezbollah in Iraq and Syria.

Oil Price Action

The oil prices rose sharply after the reports of the airstrike. Brent crude futures were up 3.05% at $68.27 at press time. The West Texas Intermediate crude futures were up 2.88% up at $62.94.

Photo Credit: sayyed shahab-o- din vajedi via Wikimedia

Posted-In: Government News Commodities Politics Global After-Hours Center Markets Media Best of Benzinga

 

Related Articles (USO)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com