Oil jumps to record highs in over 3 years today following the U.S. President’s statement of possible missile operation against Syria after what could have been a chemical attack in the previous week.
Certain airlines were changing their flights today as a warning came from Europe’s air control agency for planes in the area of eastern Mediterranean to be watchful considering potential air attacks on Syria.
In today’s tweet the U.S. President warned Russia of coming missiles as Russia had said it would shoot down any if directed at Syria.
Brent soared to almost $72 per barrel, the highest mark since the end of 2014, while gold rises for a fourth consecutive day, meantime investors left risky assets as equities. Brent kept at $71.85 for a barrel, adding 81 cents throughout the day.
U.S. WTI futures ran up to $66.34 for a barrel, gaining 83 cents from the previous settlement.
Syria is not considered a large producer of oil, but growth of conflict in the Middle East stirs up concerns of possible problems with oil flows in the region, where the globe’s largest producers are situated.