Oil prices surge following Haniyeh’s assassination
Oil prices experienced a notable rise in early Asian trading on Thursday, continuing the upward trend from the previous session.
The recent assassination of Ismail Haniyeh, the leader of Hamas, in Iran intensified concerns about potential conflicts in the region, contributing to the volatility in oil markets.
The market reaction reflects fears that such events could disrupt oil supplies and escalate regional instability.
Brent crude oil futures saw a rise of USD 0.67, or 0.8 percent, bringing the price to USD 81.51 per barrel. Similarly, US West Texas Intermediate (WTI) crude futures increased by USD 0.69, or 0.9 percent, with the price climbing to USD 78.60 per barrel.
The gains for both Brent and WTI crude follow a substantial 4 percent surge in their most actively traded contracts during the previous trading session.
