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Information Articles for the Paris TN and Henry County Tennessee area

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Information Articles for the Paris TN and Henry County Tennessee area

Oil Prices Surge as United States Launches Missile Attack on Syria

April 7, 2017 | Email This Post Print This Post
 

GasBuddyBoston, MA – Oil prices were trading sharply higher after the United States launched a missile attack on Syria Thursday night. Oil rose in usually quiet after-hours trade by a dollar per barrel to $52.70 after news spread of roughly 50 Tomahawk missiles being launched from two U.S. warships in the Mediterranean Sea.

Oil Prices rise after news that the United States launched Tomahawk misslies at Syria Thursday night.

Oil Prices rise after news that the United States launched Tomahawk misslies at Syria Thursday night.

“As we’ve seen in the past, oil prices hate turmoil. Tonight’s surge in prices comes as questions remain about military action in Syria moving future. Geopolitical tensions have surged tonight between some of the world’s largest oil producers, and the market, with concern abounding, will likely send oil prices higher,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “It is too early to know how severe or how long the impact to oil prices may be.”

“The missile strike in Syria this evening brings forth risk and uncertainty on a global scale. Oil’s rise this evening is based on geopolitical circumstance and as a benchmark commodity and hedge, it is likely its value will rise in proportion to developments,” said Dan McTeague, senior Canadian petroleum analyst.

“While there is not yet an imminent major impact to North American gasoline prices, the situation could rapidly change, we’re monitoring it and will keep consumers informed,” DeHaan added.

About GasBuddy

GasBuddy is the technology company changing the way more than 60 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 60 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services.

The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms.

For more information, visit www.gasbuddy.com

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