Oil prices surge more than 4% after US strike kills Iranian general
Hong Kong, Jan 3: Oil prices soared more than four per cent Friday following news that the US had killed a top Iranian general, fanning fresh fears of a conflict in the crude-rich region.
The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad's international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.
Later, Donald Trump tweeted a picture of the American flag, and the Pentagon said he had ordered Soleimani's killing.
Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to USD 63.84 as investors grow increasingly worried about the effects of a possible flare-up in the tinderbox Middle East on supplies of the commodity.
Both contracts later pared the gains but remained well up.
"This is more than just bloodying Iran's nose," said AxiTrader's Stephen Innes.
"This is an aggressive show of force and an outright provocation that could trigger another Middle East war."
The killing of Soleimani is a dramatic escalation of tensions between the United States and Iran and comes after a pro-Iran mob this week laid siege to the US embassy in Iraq following deadly American air strikes on the hardline Hashed faction.
The attack on the embassy highlighted new strains in the US-Iraqi relationship, which officials from both countries have described to AFP as the "coldest" in years.
Oil prices saw a record surge in September after attacks on two Saudi Arabian facilities briefly slashed output in the world's top exporter by half, with Trump blaming Iran for the attack and previous other blasts on tankers in the Gulf last year.
The crisis also comes as tensions between the US and North Korea worsen, with Kim Jong Un declaring a self-imposed moratorium on nuclear and intercontinental ballistic missile tests had ended, with US talks going nowhere.
"We are waking up to a less safe world than it was only hours ago, especially if we combine this with simmering tension in the Korean peninsula," Innes added.
The drama sent investors rushing for the hills and safe-haven units rallied with the yen up 0.7 per cent against the dollar and gold climbing more than one percent.
High-risk currencies retreated against the greenback, with South Korea's won down 0.6 per cent, Australia's dollar down 0.4 per cent and the South African rand down more than one per cent.
Equities were mixed, having been enjoying the second day of the year rallying on trade optimism.
Hong Kong fell 0.2 per cent by the break, while Shanghai shed 0.3 per cent. Singapore retreated 0.5 per cent and Taipei dropped with Mumbai.
But Seoul, Sydney, Wellington, and Manila were in positive territory.
Markets had all been well up before news of the strike, thanks to ongoing optimism fuelled by the China-US trade agreement, looser central bank monetary policies and easing Brexit worries.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
BJP chief Vijayendra targets Siddaramaiah govt on law and order situation in Karnataka
Bengaluru (PTI): Karnataka BJP president B Y Vijayendra on Saturday targeted the Congress government in the state alleging the collapse of the law and order situation and raised concerns about the safety of women, while urging the Siddaramaiah-led administration to "wake up" and take immediate measures in this regard.
He also reiterated the party's demand that the state government hand over the probe relating to cases of sexual abuse of women against Hassan MP Prajwal Revanna to the CBI.
"From the time Congress came to power in the state, the law and order situation has completely deteriorated. Murders and extortions are taking place everywhere. There is rise in rape and love jihad cases. There are questions about women's security," Vijayendra said.
While speaking to reporters here, he said, the deteriorating law and order situation is bringing disrepute to the state.
"There is a sense as though there is no government here and the police system is not functioning. As the government is not taking stringent measures, murders are on a rise in Karnataka. So we have held a protest across the state.
"It is already late now, we urge that the government should wake up at least now and discharge its duty of maintaining law and order, and take measures to give protection to women," he added.
Protests were held by the mahila morcha (women's wing) of BJP across the state today and memorandums were submitted to Deputy Commissioners in all districts. In Bengaluru a delegation led by senior BJP leader and former Chief Minister D V Sadananda Gowda submitted a memorandum to Director General of Police (DGP) Alok Mohan.
The BJP's stand is very clear regarding cases involving Prajwal Revanna and charges of sexual abuse of women against him, Vijayendra, in response to a question, said and added that the state government has to take the issue seriously and handover the probe to the CBI.
"Every day new things are coming forward in this case. So I demand that without any delay the Hassan's Prajwal Revanna cases should be given to the CBI probe. Why is the government hesitant? Names of several senior leaders are also being heard in connection with the cases, and leak of alleged explicit videos. There cannot be fair probe by the Special Investigation Team (SIT)," he said.
The BJP is not supporting anyone in connection with these cases and only wants justice for women victims, Vijayendra said, adding that "Instead of using the cases politically, government should immediately hand over them to the CBI aimed at providing justice for women victims...there is no question of any party here, it (alleged sexual abuse) was a henious crime, whoever is guilty, however big they are, they should be punished."
The state BJP chief was responding to party leader and advocate G Devaraje Gowda, who is in custody after being arrested in a sexual abuse case and is also facing charges of video leak, on Friday alleged that Deputy Chief Minister D K Shivakumar and four other ministers are behind the circulation of pen drives containing explicit videos involving Prajwal Revanna, and that he was being fixed in false cases as he did not agree to be part of their plan.
Gowda has even alleged that he was offered Rs 100 crore by Shivakumar to "bring a bad name" to the BJP and Prime Minister Narendra Modi, and to tarnish the image of JD(S) leader H D Kumaraswamy in Prajwal Revanna's obscene video case.
