Oil prices have risen in the global market following the killing of Hamas political leader, Ismail Haniyeh in Iran, today.
The prices were relatively low at below $80 per barrel in the past seven weeks but suddenly shot up after he was reported dead.
The prices of Brent and WTI currently stand at $80.79 and $77.29 per barrel, respectively, in the international market.
A senior Hamas official told Reuters “This assassination by the Israeli occupation of Brother Haniyeh is a grave escalation that aims to break the will of Hamas“ thus raising fears that it could culminate in crisis, capable of affecting oil production and export in the Middle East.
