Oil Surges as Iran Says It Attacks Iraq Base Housing U.S. Troops
Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts U.S. troops. Spot gold also jumped.
West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on the New York Mercantile Exchange after Iran’s state television reported the country started operation “Martyr Soleimani” at dawn with several rockets being fired at Ayn al-Asad base in Iraq.
Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies. READ MORE
PSEI MIGHT TAKE A CORRECTION TODAY WITH WAR HEADLINE
- WAR have started market volatility is expected
- We should some penny rallying if they are related to semi-conductor
- Minerals, energy & oil sector should do well
- Banks & finance will get a big hit
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