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Commodities Briefing - Categorized | Market Moves, Oil more

Strike on Syria would cause oil prices to … drop?

Posted on 12 September 2013

Over the last month, oil prices have been steadily climbing due to an assortment of factors. The oil crisis in Libya, production problems in Nigeria, and low OPEC spare capacity have all served to tighten the oil market. Exacerbating this is the looming threat of Syria, where the prevailing opinion is that any American intervention will send the price of crude oil skyward. Estimates as to how high said price spike will be and how long it will last vary considerably, but most agree that military action will be generally inflationary.
However, some claim that the opposite will happen. Carley Garner, co-founder of DeCarley Trading and author of A Trader’s First Book on Commodities, claims that the oil market might tumble following an American strike in Syria………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 37739 posts on Opalesque Commodities Briefing.


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