Oil prices were soaring on Wednesday morning after Israel killed a senior Hezbollah commander in Beirut and Hamas' political leader in Israel, marking a significant escalation in the regional conflict.
Geopolitical risk has well and truly returned to oil markets after Israel i strikes killed Hamas leader Ismail Haniyeh and senior Hezbollah military commander Fuad Shukr . Oil prices spiked immediately on the news and have continued to climb, with WTI rising toward $77 and Brent breaking back well above $80.
The strike has dramatically heightened tensions in the region and is likely to undermine Gaza ceasefire talks, with Iran, Qatar, Jordan, and Lebanon all condemning Israel. The Supreme Leader of Iran, Ali Khamenei added to fears of a broader war by saying ““It is our Duty to take Revenge and Severely Punish the Zionist Entity for the Assassination in Iran, because the Assassination was carried out on our Soil.
Beirut Tehran Geopolitics War Iran Hamas Haniyeh Shukr Strike
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