Oil prices are rallying on fears of an escalation in the conflict in the Middle East after Israel killed Hamas' political leader.
Brent Crude prices spent just a few hours below the $80 a barrel mark as tensions in the Middle East flared up again, pushing oil prices up by 2.5% early on Wednesday after the killing of the Hamas political leader in Iran . In morning trade in Europe, Brent Crude prices were rising by 2.51% at $80.50, while the U.S. benchmark, WTI Crude, was rallying by 2.62% to $76.70. Brent had fallen below the $80 per barrel threshold on Tuesday amid continued concerns about oil demand in China.
In response to the suspected Israeli assassination of the Hamas leader, Iran’s Ayatollah Ali Khamenei said, as posted on his official website, “The criminal, terrorist Zionist regime martyred our dear guest in our territory and has caused our grief, but it has also prepared the ground for a severe punishment.” “ollowing this bitter, tragic event which has taken place within the borders of the Islamic Republic, we believe it is our duty to take revenge.
WTI Crude Oil Oil Prices Middle East Israel Iran Hamas
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