Oil spikes as US strike on Iran general raises conflict fears - business live | Business - Republik City News
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Oil spikes as US strike on Iran general raises conflict fears – business live | Business

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Though Suleimani may be unknown by many in the West, some political analysts have likened him to a US vice president in terms of profile, while he has previously been described as the ‘single most powerful operative in the Middle East’.

Important to bear in mind when considering the kind of response that could be expected from Iran (a nation, remember, that has major ties to Russia and China).

The markets were quick to react, with the DAX and CAC losing 0.9% and 0.6% respectively (not quite all of yesterday’s gains, but still a decent chunk).

The Dow Jones, meanwhile, is set to drop 0.9% when the bell rings on Wall Street, though that figure could very easily change dependent on what happens between now and then.

In contrast to its US and Eurozone peers, the FTSE was only down 0.4%. That’s because Brent Crude rose 3.3% after the drone strike, lifting BP and Shell up around 1.3-1.4% in the process.

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