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Oil prices soar after U.S. launches missile strike in Syria

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 Cinnamon    26,073

Oil prices surged more than 2 percent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, later dropping back as there seemed no immediate threat to supplies.

U.S President Donald Trump said he had ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched earlier this week, declaring he acted in America's "national security interest" against Syrian President Bashar al-Assad.

After tepid trading before the attack, international benchmark Brent crude futures LCOc1 jumped to $56.08 per barrel before easing to $55.71 per barrel at 0519 GMT, still up 1.5 percent from its last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 also climbed by more than 2 percent, to a high of $52.94 a barrel before receding to $52.56, up 1.7 percent.

Both benchmarks hit their highest levels since early March.

"The U.S cruise missile strikes have seen crude oil jump over two percent in a straight line," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.


System is already in place. 


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 Redlistvet    857

The oil game is just that, a game.  These prices are set by speculators and not by actual demands.  These speculators will jump at the chance to raise oil prices at any chance they get.

Gasoline manufacturing plateaued 20 years ago. Sure the demand for gas and diesel can swing but its the availability of the crude that speculators depend on. 

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 garlic    2,639

Those water protectors in Dakota need to get out of the way. We need lots of oil and pipelines to fight our new war.

Why do you think Trump put Rick Perry on the National Security Counsel? Nobody in Washington knows more about gettin oil out of the ground than a Texas Governor!

Better sell those big SUV's very soon. Gas will be going up soon.

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