U.S. crude oil futures jumped more than 3% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran, Iran, renewing fears that the Middle East is teetering on the brink of a regional war.
West Texas Intermediate September contract stood mid-morning Wednesday at $77.28 per barrel, up $2.55, or 3.51%. Year to date, U.S. oil has gained 7.9%.
Brent September contract is now $80.73 per barrel, up $2.10, or 2.67%. Year to date, the global benchmark is ahead 4.8%.
RBOB Gasoline August contract rose $2.44 per gallon, up five cents, or 2.41%. Year to date, gasoline is up 16.2%.
Natural Gas September contract: $2.08 per thousand cubic feet, up 4 cents, or 2.07%. Year to date, gas is down 17%
Iran’s paramilitary Revolutionary Guard accused Israel of assassinating Haniyeh at his residence in Tehran. Iran’s supreme leader, Ayatollah Ali Khamenei, said it is Iran’s duty to punish Israel for this action, according to a Google-translated report from the state-run Islamic Republic News Agency.
Haniyeh’s assassination casts even more uncertainty over a potential Gaza cease-fire deal between Israel and Hamas. Haniyeh was a senior negotiator in the talks.
