"Israel Kills Hamas Political Leader Haniyeh in Iran – Oil Prices Surge"

Israeli airstrikes have killed Ismail Haniyeh, a political leader of the Islamist organization Hamas, in Iran, Hamas announced.

Haniyeh, who was based in Qatar, had traveled to Tehran to attend the inauguration of Iran's new president on the 30th. In a statement released early on the 31st, Hamas said Haniyeh was killed in his Tehran residence by what they described as a "shameless Zionist airstrike."

The Israeli military has refrained from commenting on the incident. Following Hamas's surprise attack on October 7 last year, Israel had declared its intention to eliminate Hamas leaders.

Additionally, on the 30th, the Israeli military carried out an attack on Beirut, the capital of Lebanon, targeting a commander of the Iran-aligned militia group Hezbollah. The Israeli military stated that the targeted commander was responsible for directing an attack in the Golan Heights that killed 12 people.

Haniyeh, who was in his early 60s, played a crucial role in the ongoing ceasefire negotiations between Israel and Hamas, communicating with leaders of armed groups in the Gaza Strip. His death could potentially derail these negotiations. Last week, the United States indicated that while progress was being made, significant challenges remained to reach an agreement.

The assassination of the Hamas leader has heightened geopolitical risks, leading to a rise in oil prices. As of 12:21 PM Japan time, Brent crude for October delivery was up 1.2% at $79.03 per barrel, while West Texas Intermediate (WTI) for September delivery on the New York Mercantile Exchange (NYMEX) was up 1.4% at $75.75 per barrel. The market was also influenced by industry reports of US crude oil inventories decreasing for five consecutive weeks.