Breitling Oil and Gas Texas and California Morning Podcast #355

Oil prices could hit $150 a barrel with any strike against Syria. Why does Syria matter so much to global oil prices? The concern is the risk that Western intervention in Syria could prompt a wider regional conflict, given the support that Iran has provided to the regime. With a U.S. strike on Syria, making some rapid progress on the Iranian nuclear files will be more difficult, and Iran will not have been given the opportunity to try a different route. The situation in Iraq, the 2nd largest OPEC’s producer, has significantly deteriorated because of Syria with its mainly Shiite government widely seen as siding with the Assad regime and Iraq’s Sunni opposition leaders with the Syrian rebels.  If any of this happens oil could surpass $150 a barrel QUICKLY.

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