Oil prices surged on Friday amid fears that, US airstrike that killed Iran’s top military commander, could trigger a Middle East war.
Brent crude surged as much as 5 percent after the assassination of General Qassim Soleimani, the head of Iran’s elite Quds Force, outside Baghdad International airport.
Panic began as a senator close to US President Donald Trump warned that Iranian refineries could be targeted next – a move that could spark chaos in the world’s most important region for exports. Countries fear that, Iran may retaliate by blocking the vital Straits of Hormuz, cutting of a key artery in the Persian Gulf, through which a fifth of the world’s oil supply is transported every day.
