Oil price jumps on fear of Iranian retaliation against US

(AP) The price of oil has surged on the news of the United States’ military strike that killed Iran’s top general.

The international benchmark for crude oil jumped 4.5%, or $2.98, to $69.23 a barrel in London trading on Friday.

Uncertainty gripped global investors as they tried to gauge what Tehran’s response will be. There are concerns about a disruption in global supplies of energy from the Middle East.

Amid past tensions with the U.S., Iran threatened the supply of oil that travels from the Persian Gulf to the rest of the world. About 20% of oil traded worldwide travels by ship from the gulf.