Hamas leader killed, Israel strikes back; oil prices surge
6:53 AM EDT, July 31, 2024
The leader of Hamas was killed in Tehran, according to the Iranian Revolutionary Guard Corps. The Palestinian organization, in turn, reported that its leader died as a result of a "Zionist" attack. Reuters noted that the escalation in the Middle East has led to an increase in oil prices.
The situation in the Middle East is escalating. The Iranian Revolutionary Guard Corps reported that Hamas leader Ismail Haniyeh was murdered in the country's capital, Tehran. The Palestinian organization confirmed that its leader died as a result of a "Zionist" attack.
That's not the end. On Saturday (July 27), a rocket attack was carried out from Lebanon on the Golan Heights, a disputed region under Israeli control. The Hezbollah organization was accused of this, although it did not claim responsibility.
As announced, Tel Aviv retaliated. Fuad Shukr, the chief military commander of Hezbollah, was killed in an airstrike on Beirut, according to the Israeli army. In a statement, it was reported that the fighter was responsible for, among other things, advanced weapons programs of the Iran-supported group. Oil prices reacted.
The agency writes that Brent crude oil futures rose by 39 cents, or 0.5%, to $79.02 per barrel, while the more active October contract increased to $78.54, an uptick of 47 cents.
Reuters adds that US West Texas Intermediate crude oil futures rose by 52 cents, or 0.7%, to $75.25 per barrel.
Israel's longest war since 1948
The situation in the Middle East has been tense since October 7 last year, when a terrorist attack on Israel was carried out by the Palestinian organization Hamas. As a consequence, the war in the Gaza Strip has disrupted international trade through the Red Sea, among other things.
Talks are underway on a ceasefire brokered by the US, Egypt, and Qatar, but both sides have yet to reach an agreement, resulting in the continued deaths of civilians. The fighting continues not only in the Gaza Strip.
