Oil Price Hike in World Market Amid Increased Tensions in Syria


The Civil War situation in Syria seems to be taking a turn for the worst, causing crude oil price to increase, making it the highest since 2014. Recently a nerve gas agent was used in an area of rebels in Douma, causing children and elderly who were taking refuge in their homes to die painful death. More than 500 people admitted in hospital from the city of Douma have been confirmed with symptoms of the chemical gas attack. President Trump has condemned this inhumane act and called the leader Assad an animal, also condemning the support of Russia and Iran towards the leader. President Trump also warned Russia to back off his troops as he is preparing missile strikes on the state. This statement from the President Trump has caused international markets to rattle; oil price have soared since his last statement. The increase in price has been due to uncertain future of the supply after statement by Donald Trump, says market expert.

Trump’s Recent Statement Cause Oil Price to Surge

After the recent chemical gas attack in Syria, the British Prime Minister Theresa May has called the President of United States Donald Trump and French President Emmanuel Macron for an attack on the Assad backed regime. All of the countries have agreed on a military strict military action on the areas occupied by the Assad regime. Russian troops on the other hand have been ordered to be on high alert by President Vladimir Putin. The current situation of Syria has caused the international markets to shake down a bit with prices soaring and falling over different commodities. Crude Oil price has surged by 7 cent a barrel, making the total price of crude oil 71 dollars 9 cents as the uncertainty rises about the supply. An increase was also noticed in the Oil price in market after missiles were intercepted over Saudi Arabia’s city Riyadh.

After the order issued by President Putin to the Russian troops in Syria, Russian army has been jamming attack and surveillance drones from America, destroying them or decommissioning them. America is mustering its destroyers, jets and submarines for initiating missile strike on Syria.


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