Oil prices moved up Wednesday morning after Iran fired a barrage of ballistic missiles against two bases housing US and coalition forces in Iraq.

It was learned that the benchmark WTI jumped as much as 4.53 percent to $65.54 a barrel before settling down slightly after Iran responded to the US killing of its military commander Qasem Soleimani.

“This morning, courageous fighters of the IRGC’s Air Force launched a successful operation called Operation Martyr Soleimani, with the code ‘Oh Zahra’ by firing tens of ground-to-ground missiles at the base of the terrorist and invasive U.S. forces,” the country’s state-run news outlet ISNA reported.

Tens of missiles were launched from Iran early Wednesday at two Iraq airbases, Al Asad and Erbil bases, housing US and coalition troops.

Iranian state TV had said ‘tens’ of surface-to-surface missiles were launched by Iran’s Islamic Revolution Guards Corps (IRGC).

“Under missile attack from Iran,” Fox News reported a senior US military source in Iraq said.

“These are either cruise missiles or short range ballistic missiles. All over the country.”