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Oil jumps as US strike on Iran general raises conflict fears

The oil price surged almost USD 70 per barrel after a US airstrike killed an Iranian general in Iraq. The move intensifies fears of a new conflict in the world's top crude oil producing region.

Qassem Soleimani was killed during an attack in Baghdad. | Photo: -/AFP / KHAMENEI.IR

Oil jumped close to USD 70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.

In a turbulent start to the Asian day marked by unusually heavy trading, futures in London and New York surged by more than 4 percent to levels not seen since the attacks on Saudi Arabia’s infrastructure in September. The strike near Baghdad airport killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, according to a Defense Department statement.

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