• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 5 hours Governments that wasted massive windfalls
  • 14 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours Let’s take a Historical walk around the Rig
  • 16 hours Trump has changed into a World Leader
  • 5 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 4 hours Here is Why People Lose Money Trading Natural Gas
  • 1 day Beijing Must Face Reality That Taiwan is Independent
  • 2 days Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 hours US Shale: Technology
  • 7 hours 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 13 hours Trump capitulated
  • 2 days Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)

Breaking News:

Brazil Decides Against Joining OPEC

Alt Text

China Virus Fears Send Oil Prices Even Lower

Oil prices were down early…

Alt Text

How Important Is The Suriname Oil Discovery?

Guyana has been the offshore…

Alt Text

Oil Will Stay Above $50 Per Barrel In 2020

Energy markets have started the…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Oil Jumps To One-Month High After U.S. Missile Strike In Syria

International oil prices spiked to a one-month high after President Trump ordered missile strikes against Syrian military infrastructure in response to a chemical weapons attack for which security sources held responsible the Bashar Assad government.

The strikes hit a military airport and related targets, killing six. The strikes comes just a week after U.S. ambassador to the UN said that removing Assad from power was no longer a priority for the U.S.

The Syrian side has denied responsibility for the attack, calling the air strikes “an aggression”. Assad’s main allies in the region, Russia and Iran, have also condemned the move, with Russia’s President Putin saying that it violated international laws and would worsen relations between the U.S. and Russia.

The Western world has welcomed the direct U.S. involvement, as have Saudi Arabia, Turkey, and Israel.

All markets reacted immediately to the strikes, with crude oil the obvious big winner: WTI jumped over $52 a barrel, and Brent passed the $55 mark.

Although Syria itself is not a major oil producer, especially in the last few years while the civil war has been raging, it neighbors Iraq; any increase in tension within Syria is likely to reverberate across the Middle East and beyond, especially now that the latest events have put the U.S. and Russia at odds. Related: Obliterating ISIS May Hamper Iraqi Oil Production

The chemical weapons were released after an airstrike by the Syrian army over rebel-held Khan Sheikhoun, in the province of Idlib. Examination of some of the victims in Turkey has suggested that they were exposed to sarin, a neurotoxin that the Assad government has a history with. The Syrian government claims that the weapons were released accidentally when its air strikes hit a storage facility of the rebels.

The situation in Syria is becoming increasingly complicated, which is bound to continue to reflect on oil prices, most likely keeping them higher for longer, until the main actors in the play mull over their next moves.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play