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Oil rises to 3,5 year’s maximum due to Syrian events

Oil rises to 3,5 year’s maximum due to Syrian events

In Thursday, Brent’s barrel was traded for more than $72 per unit, and WTI contract’s price reached $67 per barrel. Last time such high indices were noticed in November, 2014. A fast growth of the oil quotes was provoked by Middle East conflict’s escalation. 

In Wednesday, Donald Trump warned about «clever» missile strike, prepared by US as an answer to recent chemical attack in Douma. Also, US President has criticized Moscow for supporting Bashar Assad, the Syrian President, blamed in killing his own citizens by US. 

Market participants have fears about Russia’s answer. If Syrian conflict would escalate, a lot of problems with oil supplying from Middle East region may rise. These fears provoke an oil quotes’ growth to 3,5-year maximum. 

Being interested in Syrian conflict, investors missed US Department of Energy report, published yesterday. According to EIA data, a volume of US crude oil reserves was increased to 3,3 million barrels last week, despite of expert’s forecast of 600 thousand barrels of decrease.