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Published

Oil Prices Rise as Islamists Rebels Take Over Syria

  • Crude oil prices increased this week following the news that Islamist rebel groups took over Syria after ousting President Bashar Assad in a swift offensive lasting less than a month.
  • President Bashar Assad fled to Russia, marking a major shift in Middle Eastern politics by depriving Russia and Iran of an ally in the region.
  • Mitsubishi UFJ Research and Consulting analyst Tomomichi Akuta noted that the development in Syria added political uncertainty, which provided some support to the oil market.
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  • 63% of the sources lean Right
62% Right
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