Oil prices jump on fears of Iranian retaliation

By

World News

January 3, 2020 - 10:19 AM

LONDON (AP) — The price of oil surged Friday on concerns that Iran might respond to the killing of its top general by the United States by disrupting global supplies of energy from the Mideast.

If sustained, the rise in oil prices could lead to more expensive car fuel, heating and electricity bills, stifling the global economy at a time when it is already slowing.

News that Gen. Qassem Soleimani, head of Iran’s elite Quds Force, was killed in an air attack at the Baghdad international airport prompted expectations of Iranian retaliation.

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