Following the US launched air attack at Baghdad international airport which killed an Iranian general, oil prices surged in trading on Friday.

Global investors fear retaliation over the death of Gen. Qassem Soleimani, the head of the country’s elite Quds Force.

Crude oil jumped up 4.3 percent to $69.08 per barrel, says CNN .

The Pentagon claims the action was necessary for “deterring future Iranian attack plans,” noting that Soleimani was “actively developing plans to attack American diplomats and service members”.