US Attack on General Soleimani: 3 Things To Watch

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Friday, January 03, 2019 / 4:48 PM / Ottoabasi Abasiekong for WebTV / Header Image Credit: Daily Post

 

Yesterday the United States of America carried out targeted airstrikes in Baghdad, Iraq, claiming the life of the Iranian Revolutionary Guards Overseas operations Commander General  Qasem Soleimani.

 

General Qaseem Soleimani, before his death, coordinated the activities of the Quds force and was a powerful military officer and a key member of the Iranian regime.

 

The Supreme Leader of Iran Ayatollah Mohammed Khoumeni vowed to revenge the death of General Soleimani, and this poses a further breakdown of relations between the United States and Iran.

 

Following this development, here are three things to watch.

 

Global Markets

The reaction of the global markets today to the airstrike will be very critical to understand how the geopolitical tensions will impact the markets.

 

Investors are averse to uncertainties and the performance of NYSE, FTSE, Asian markets, the JSE and NSE, will be monitored closely to see its effect so far.

 

Global Crude Oil Price 

The International Crude Oil price market will come to the fore in the wake of the hostilities from the United States of America.

The current price of international crude oil appears in Table 1 below;

 

Table 1 Recent International Crude Oil Prices 2020

Crude Oil Type/Produce

Price ($)

Brent

US$68.59

OPEC Basket

US$67.96

Source: OilPrice.Com

 

Stability In The Middle-East 

The Middle-east region is one of the most sensitive geopolitical zones on the globe, with retaliatory attacks threatened by Iran, allies of the United States of America like Israel will be on red alert to avert an Iranian reprisal.


Militia groups like Hezbollah, in an alliance with Iran, could take the opportunity to align operations with Iranian- backed groups to orchestrate attacks on American interests globally.

 

Seen as the first major global politicoeconomic story of the new decade, WebTV will continue to monitor developments between the United States and Iran and the implications for the global oil market.


Proshare Nigeria Pvt. Ltd.

 

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Proshare Nigeria Pvt. Ltd.

 

Related News On US and Iran

1.        OPEC plus Has Capacity to Offset Iran Crude Supply Cuts

2.       US Sanctions On Iran 'Snap Back': What Does It Mean?


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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