Oil Prices Rise amid Spiraling Middle East Violence

CBS News

The price of oil jumped more than $2 a barrel on Wednesday just hours after Hamas political leader Ismail Haniyeh was killed in an early morning air strike, as jittery investors keep an eye on spiraling violence in the Middle East.

Haniyeh was assassinated in Iran’s capital after he attended the inauguration of the country’s new president, the militant group said. Iranian officials and Hamas have blamed Israel for the strike that killed Haniyeh. Israel has not confirmed that it killed the Hamas chief, but a U.S. official told CBS News’ Margaret Brennan on that the U.S. determined that both Haniyeh and top Hezbollah commander Fuad Shukr were killed in Israeli strikes.

U.S. benchmark oil prices rose $2.64 to $77.38 per barrel, while Brent crude climbed $2.38 to $80.45 per barrel.

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