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Iran attack: Crude oil prices jump after Iraq missile attacks | Iran attack: Crude oil prices jump after Iraq missile attacks |
(32 minutes later) | |
Oil prices have jumped after at least two airbases hosting US troops in Iraq were attacked. | Oil prices have jumped after at least two airbases hosting US troops in Iraq were attacked. |
Crude oil jumped by as much as 4.5% to $65.65 per barrel in Asian trade on concerns that this could disrupt oil supplies from the Middle East. | |
So-called safe haven assets, like gold and the Japanese yen, also rose sharply on the news. | So-called safe haven assets, like gold and the Japanese yen, also rose sharply on the news. |
At the same time global stock prices were sent lower on concerns over the growing conflict in the Middle East. | At the same time global stock prices were sent lower on concerns over the growing conflict in the Middle East. |
Japan's benchmark Nikkei 225 stock index fell by more than 2.5%. | Japan's benchmark Nikkei 225 stock index fell by more than 2.5%. |
Iranian state television said the attack was a retaliation for the killing of the country's top commander Qasem Soleimani. | Iranian state television said the attack was a retaliation for the killing of the country's top commander Qasem Soleimani. |
The attack happened just hours after the funeral service of Iranian General Qasem Soleimani, who was killed by a US drone strike on Friday. | The attack happened just hours after the funeral service of Iranian General Qasem Soleimani, who was killed by a US drone strike on Friday. |
His death had raised concerns that the conflict between the US and Iran could escalate further. | His death had raised concerns that the conflict between the US and Iran could escalate further. |