https://www.engineeringnews.co.za

Oil surges as Iran says it attacks Iraq base housing US troops

8th January 2020

By: Bloomberg

  

Font size: - +

SINGAPORE – Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts US 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 US killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies.

US President Donald Trump has been briefed on reports of attacks on US facilities in Iraq and is monitoring the situation closely with his national security team, the White House said in a statement.

WTI futures were up 3.6% at $64.93 a barrel at 7:46 a.m. in Singapore. Spot gold jumped 1.5% to $1 598.30 an ounce.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.057 0.975s - 140pq - 2rq
Subscribe Now