Global oil prices experienced a significant surge on Wednesday following the assassination of Hamas’s political leader Ismail Haniyeh in Iran. The suspected Israeli strike on Haniyeh has sparked fears of a potential escalation in the Israel-Hamas conflict, leading to concerns about the production and distribution of oil in the region that accounts for about a third of global supply.
The news of Haniyeh’s assassination sent shockwaves through the global oil market, with both Brent crude and West Texas Intermediate benchmarks seeing a sharp increase. The uncertainty surrounding the situation has raised questions about stability in the oil-producing region and the impact it may have on oil prices.
In addition to the geopolitical tensions in the Middle East, investors are also closely monitoring the upcoming decision by the US Federal Reserve on interest rates. The combination of these factors is likely to have a significant impact on the oil market in the coming days.
The assassination of Ismail Haniyeh in Iran has reignited concerns about the fragile peace in the region and its potential implications for the global oil market. As the situation continues to evolve, the oil industry and investors will be closely watching for any further developments.
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Video “Global oil prices jump after Hamas leader’s assassination in Iran • FRANCE 24 English” was uploaded on 07/31/2024 to Youtube Channel FRANCE 24 English