logo

FX.co ★ Oil prices rise after US attack on Syria

Oil prices rise after US attack on Syria

Oil prices rise after US attack on Syria

Brent crude rose by 1.29 percent to $55.61 a barrel on the ICE. Oil prices jumped after the US missile attack on the Syrian airbase. Oil prices in rubles surged by 10 percent in a few days.
According to CNBC, the dollar slightly decreased against the yen right after the attack. The greenback/yen currency pair traded at 110.4, off its previous highs of 110.99. The US dollar also weakened against the six major currencies.
Alexei Antonov, an analyst at Alor Broker, believes that Brent can rise to $57 per barrel next week. In his comment on the Finam website he said that after the US attacks on Syria, which triggered growth of oil prices, the level of $57 looks quite achievable. Oil is likely to at least test this level next week.
On the night of April 7, the US military fired 59 Tomahawk missiles from two US Navy warships in the Mediterranean Sea at the state military airbase of Shayrat in Homs province in western Syria. US President Donald Trump says that Shayrat was used to launch the chemical attack on rebel-held Idlib province.
A day earlier, Maksim Oreshkin, the Russian Minister of Economic Development, said that at the current oil prices the US dollar/Russian ruble pair may rise to 63-64 in the near future and reach 68 by the end of the year.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account