Crude oil prices skyrocketed and U.S. stock market futures fell on Thursday night following news that a top Iranian general and an Iraqi militia’s deputy commander were killed in a U.S. airstrike at Baghdad’s airport.
The Associated Press reported an airstrike killed Gen. Qassem Soleimani, head of Iran’s elite Quds Force and architect of its regional security apparatus. Also killed was Abu Mahdi al-Muhandis, deputy commander of Iran-backed militias in Iraq known as the Popular Mobilization Forces, or PMF, and at least five other people.
Late Thursday night, the Pentagon said President Donald Trump had approved the attack, and said Soleimani “was actively developing plans to attack American diplomats and service members in Iraq and throughout the region.”
Earlier this week vowed Iran would be held “fully responsible” for the recent attack on the U.S. Embassy in Baghdad by Iranian-backed militias.
Their deaths are a potential turning point in the Middle East represent a drastic change for American policy toward Iran after months of tensions.
Thursday’s airstrike set off immediate speculation of serious military reprisals — and potentially all-out war — against U.S. targets around the Persian Gulf by Iran and Iranian-backed militias in Iraq.
“Equity futures are tanking, gold futures are surging — as the geopolitical risk Index rockets higher,” Stephen Innes, chief Asia market strategist for AxiTrader, wrote in a note. “This is more than just bloodying Iran’s nose. This is an aggressive show of force and an outright provocation that could trigger another Middle East war. Indeed we are waking up to a less safe world than it was only hours ago.”
West Texas Intermediate crude for February delivery CLG20, +3.94% and the global benchmark, Brent crude for March delivery BRNH20, +4.11% , each surged immediately following the news.
If those increases hold up for Friday’s trading sessions, it would be near crude’s highest prices since mid-September, after a missile attack on Saudi Arabia’s oil facilities.
U.S. stock market futures took a hit as well, with Dow Jones Industrial Average futures YM00, -1.19% and S&P 500 futures ES00, -1.30% and Nasdaq Composite futures NQ00, -1.49% all falling, indicating likely losses in Friday’s trading session.
Stocks in Europe also fell, with the Stoxx Europe 600 SXXP, -0.82% losing ground as airline stocks including Deutsche Lufthansa LHA, -7.57% and Air France-KLM AF, -7.59% plunged. But oil producers such as BP BP, +1.56% gained ground.
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No US individuals would get killed or injured if they simply left the Middle East.
Those that invade other countries should expect to be treated as invaders and getting killed or injured is part of the response to invasion.
This is common sense. Yankee go home.
SAO
I thought you were for open borders.
This has nothing to do with open borders. Invading others should have consequences.
BTW – I’m not in favor of open borders in the current political and economic arrangement. I am in favor of allowing people to go wherever they choose without requiring permission AS LONG AS THEY CAN SUPPORT THEMSELVES ONCE THEY GET THERE. If an American is threatened by an illiterate Guatemalan, then that American is the real problem as he wasted his educational opportunity.
If there were no welfare and other ‘free stuff’ there wouldn’t be a problem with ‘illegals’ as they would either starve or go back where they came from. It is the ‘free stuff’ magnet that attracts the human trash. Having third world invaders come in to destroy an economy because the gov’t policy says that’s OK is plain stupid.
Solutions are obvious, logic, not so much.
I saw the word “skyrockets” used in conjunction with oil prices but then there was no proof offered. I looked it and now I know that an increase of 2% serves as the new baseline for skyrocketing.
indeed, oil up $1.70 is “skyrocketing”??
Israel celebrates!
the jews have bad dandruff but oil?? who knew
It’s okay John, we too understand US assassinations. Not only does it assassinate foreigners it assassinates it’s own also.
That is the most dishonest headline to an article I have seen in quite sometime.