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Syria strike could cause oil price spike to $130

Posted on 02 September 2013

The possibility of a short-term Nato-led military strike on Syria has intensified concerns over security of oil supply and could cause a spike in range of $120-$130 per barrel, according to a report released by BofA Merrill Lynch.
Prior to international sanctions imposed in late 2011, Syria produced 350 thousand barrels per day, added the latest Global Energy Weekly from Bank of America (BofA) Merrill Lynch. Now, output is down to 50 thousand barrels per day. However, the real concern with Syria is that any conflict could draw in Iran, Russia, and other Middle East nations, the report said………………………………………..Full Article: Source


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