Syria crisis affects oil prices

Syria crisis affects oil prices

Light, sweet crude oil for October delivery on the New York Mercantile Exchange ended $2.16 higher at $110.53 a barrel.
ICE Brent crude oil for October delivery settled 0.8%, or 86 cents, higher at $116.12 a barrel. The contract gained 1.9% for the week.
Syria crisis has inflated oil prices as traders worry that any military action could spill over to other oil-rich nations such as Iraq, Iran or Saudi Arabia. Syria is also near major sea routes and key pipelines in the Persian Gulf and Turkey, which transport millions of barrels of crude and refined products daily.
Oil and Gas Press

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