US Airstrike In Baghdad Kills Key Iranian Military Leader, Oil Prices See Sharp Gains

A key Iranian military leader was among the seven people killed in a U.S. airstrike at the Baghdad International Airport, Reuters reported late Thursday citing local sources.

What Happened

The U.S. launched three rockets targeting the convoy of Qassem Soleimani, the head of Iran's elite Quds Force, a spokesperson for Iraq's state-backed militia consortium Popular Mobilisation Forces told Reuters.

Soleimani was killed in the strikes, alongside Iraq Military commander Abu Mahdi al-Muhandis and five other paramilitary members.

"The American and Israeli enemy is responsible for killing the mujahideen Abu Mahdi al-Muhandis and Qassem Soleimani," the spokesperson told Reuters.

Why It Matters

The strikes come less than a week later after President Donald Trump warned of holding Iran "fully responsible" for any attacks against U.S. facilities or citizens.

"Iran will be held fully responsible for lives lost, or damage incurred, at any of our facilities. They will pay a very BIG PRICE! This is not a Warning, it is a Threat. Happy New Year!" Trump said on Twitter on Tuesday.

Last Sunday, the U.S. forces carried out five strikes at bases controlled by Iran-backed Shia militia Kata'ib Hezbollah in Iraq and Syria.

Oil Price Action

The oil prices rose sharply after the reports of the airstrike. Brent crude futures were up 3.05% at $68.27 at press time. The West Texas Intermediate crude futures were up 2.88% up at $62.94.

Photo Credit: sayyed shahab-o- din vajedi via Wikimedia