David Lee
4
All posts from David Lee
David Lee in David Monzon,

Syria pulls down oil prices

According to Reuters, Western powers could attack Syria within days as Washington and its European and Middle Eastern partners honed plans to punish Assad for a major poison gas attack last week that killed hundreds of civilians.

As a result, oil prices rose about 3%, but I believe the market reaction is too heavy... Being a 34th world oil producer in 2011, the country's production has fallen drastically over the past two years by 95%, the Associated Press has reported in may. Syria is not a major oil exporter any more! Logically, the downward movement could be soon. But now we can only wait for another news, as oil market goes crazy...