ximmy
27th August 2013, 05:02 PM
we knew this was coming, anything to raise the price of gas.
Barclays Warns About The Oil Price "Spillover Effects" From Syria
The increasing likelihood of some form of limited US led military action in Syria is compounding concerns about the stability of the world’s key oil producing region and Barclays warns that it will likely exert upward pressure on prices until the nature of the possible military intervention becomes apparent. But the bigger risk for the oil market is the potential for the Syrian conflict to spread to neighboring producing countries and imperil regional output, as the Syrian conflict is fueling broader sectarian tensions across the entire Middle East and has become something of a proxy war. The problem for global oil prices is that all of this Middle East volatility is taking place against the backdrop of a recent rise in unplanned outages in the oil market outside Syria. In sum, Barclays is concerned that with geopolitical tension and physical outages on the rise, crude oil markets are at an inflection point.
http://www.zerohedge.com/news/2013-08-27/barclays-warns-about-oil-price-spillover-effects-syria
U.S. stocks tumbled and the price of crude oil jumped Tuesday as the Obama administration weighs its next step in the Syrian conflict.
The benchmark stock indexes were down Tuesday and the price of October U.S. crude oil jumped about 3.8% to nearly $108.85 a barrel.
Brent crude oil hit a five-month high as well, rising above $111 a barrel Tuesday.
Barclays Warns About The Oil Price "Spillover Effects" From Syria
The increasing likelihood of some form of limited US led military action in Syria is compounding concerns about the stability of the world’s key oil producing region and Barclays warns that it will likely exert upward pressure on prices until the nature of the possible military intervention becomes apparent. But the bigger risk for the oil market is the potential for the Syrian conflict to spread to neighboring producing countries and imperil regional output, as the Syrian conflict is fueling broader sectarian tensions across the entire Middle East and has become something of a proxy war. The problem for global oil prices is that all of this Middle East volatility is taking place against the backdrop of a recent rise in unplanned outages in the oil market outside Syria. In sum, Barclays is concerned that with geopolitical tension and physical outages on the rise, crude oil markets are at an inflection point.
http://www.zerohedge.com/news/2013-08-27/barclays-warns-about-oil-price-spillover-effects-syria
U.S. stocks tumbled and the price of crude oil jumped Tuesday as the Obama administration weighs its next step in the Syrian conflict.
The benchmark stock indexes were down Tuesday and the price of October U.S. crude oil jumped about 3.8% to nearly $108.85 a barrel.
Brent crude oil hit a five-month high as well, rising above $111 a barrel Tuesday.