The Real Worry for Oil Prices Isn't Missiles Over Syria - Bloomberg

The Real Worry for Oil Prices Isn't Missiles Over Syria - Bloomberg:

"Rising geopolitical tensions in the Middle East have already boosted oil prices and there is plenty of scope for them to move higher still. That an oil price spike would follow Western missiles launched at Syria seems a foregone conclusion. But for prices to really keep moving higher, the U.S. would have to take serious action against Syria's key sponsors: Russia and Iran.

Any form of attack on Syria should have little or no physical impact on oil supplies. Syria hasn't exported any since the start of its civil war in 2011. To keep the country running, Iran has been delivering around 50,000 barrels a day of crude to Syria's Banias terminal, according to Bloomberg tanker tracking.

As I have written recently President Donald Trump already has Iran in his sights. The clock is ticking -- May 12 is the deadline for him to extend the waiver on sanctions that are suspended by the nuclear deal. "



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