Crude Rises as Russia Says It Will Help Syria

[Purveyor]

Source: Bloomberg

By Moming Zhou - Sep 6, 2013

West Texas Intermediate crude rose for a second day as Russian President Vladimir Putin said his nation will assist Syria if it’s attacked, raising concern that escalating tension will disrupt Middle East oil exports.

Prices climbed as much as 1.8 percent. Putin said that Russia may resume deliveries of advanced S-300 anti-aircraft missiles to Syria if U.S. President Barack Obama carries through on a threat to punish Syrian President Bashar al-Assad for allegedly using chemical weapons against civilians. Crude also gained on speculation that the Federal Reserve will limit its stimulus reduction following slower-than-expected jobs growth.

“The involvement by Russia could escalate things and take it beyond Syrian borders,” said Kyle Cooper, director of commodities research at IAF Advisors in Houston. “The situation in Syria is fluid and that has the market concerned. The disappointing jobs numbers probably make people thinking that Fed tapering might be delayed.”

WTI for October delivery gained $1.59, or 1.5 percent, to $109.96 a barrel at 12:28 p.m. on the New York Mercantile Exchange. Prices are up 2.1 percent this week. Volume of all futures was 7.9 percent below the 100-day average.

Read more: http://www.bloomberg.com/news/2013-09-06/crude-rises-for-second-day-after-jobs-report.html

[Coyotl]

1. More money for Saudi Arabia to invest in the conflict plus a HUGE profit on investment so far.

[Iliyah]

2. It doesn't matter, gas goes up

every three or so months regardless. The oil companies need for money which is plain greed.

[Trillo]

3. Imagine the trading opportunities!

It's all about the MONEY!

"War is a racket."

I wish it were sarcasm.

[DeeBunker]

4. Well, Bandar Bush...

supposedly had a face-to-face with Vlad the Hammer, what, last wk or 2 before the G20? He was supposedly offering Putin energy markets rights in the region in exchange for support against Syria in the Sec Council. I don't think the Beast is gonna recipricate with cloaked ultimatum's from the Bush-ho'.
'Cides, in the 'Great Game', u don't tug on Superman's Cape; U don't pull mask off d ole' loneranger & u don't mess 'round w/Vlad.
Trying to maybe infiltrate the establishment DC Dickos, ObamaNation may be now gettin' in over his head; may he stay safe 4 his own damn good...