Syrian “Godfather of Oil” for the Regime Killed in Drone Strike

A Syrian businessman widely known in the region as the “godfather of oil” for the regime of Bashir al-Assad was reportedly killed in an Israeli attack near the border with Lebanon, Kurdish media reported late on Monday, citing a human rights group. 

According to reports from the Syrian Observatory for Human Rights (SOHR), Baraa al-Qaterji, a Syrian businessman and politician said to be close to Assad and sanctioned by Washington, was killed when an Israeli drone hit the car he was traveling in.

The alleged Israeli airstrike took place near a crossing on the Beirut-Damascus road. One other person was killed, though his identity has not been released. 

Israeli authorities have not commented on the airstrike. 

Last week, a similar drone strike along the same road, also believed to have been undertaken by the Israelis, resulted in the death of a former bodyguard of Hezbollah leader Hassan Nasrallah. 

Al-Qaterji, according to human rights groups, was the key figure responsible for acquiring oil from Kurdish-controlled areas of Syria and supplying that oil to the Assad regime. 

He had become an Israeli target for his role in funding pro-Iran militias in Syria in their efforts to target Israel, as cross-border tensions between Israel and Lebanon continue to intensify. 

In April, a suspected Israeli strike completely leveled the Iranian consulate in Damascus, Syria, killing six.

This attack is an escalation that could add more volatility to oil prices as the market assesses the likelihood of a threat to global oil supply or demand. 

At the time of writing on Monday at 4:43 p.m. ET, shortly after reports of the attack, Brent crude was trading down 0.24% at $84.83, while the U.S. crude benchmark, West Texas Intermediate (WTI), was trading down 0.38% at $81.90.

By Julianne Geiger for Oilprice.com

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