Oil Industry Braces for Mideast Turmoil After Soleimani Killing
- U.S. and Iran move closer to direct military confrontation
- Escalating tensions already disrupted crude supplies last year
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The U.S. assassination of one of Iran’s most powerful generals has the oil industry bracing for something it has long feared and anticipated -- direct military confrontation between the two adversaries.
In the hours after President Donald Trump ordered the killing at Baghdad airport of Qassem Soleimani, who led Iran’s Quds force, crude oil surged, American workers began to withdraw from Iraqi fields and traders scrambled to position themselves for even higher prices.