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How Syria has stretched and squeezed the oil price

Posted on 17 September 2013

The price of oil has followed the newsflow out of Syria closely. So, as the threat of U.S.-led military strikes has come and seemingly gone, crude is back pretty much exactly where it was before a chemical weapons attack was reported on Syrian civilians.
That was August 21. The oil price didn’t move much, though, even then, as Syria’s production had already dropped to negligible levels. But on August 27 the price began to move. international rhetoric had heated up, with Secretary of State John Kerry saying that the U.S. and its allies were considering military strikes on Syria after “undeniable” evidence of a chemical attack. Suddenly, talk was of regional contagion – into oil producers Iraq, Iran or Saudi Arabia………………………………………..Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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