 Mark Stone at Risk Capital International Bullish on Oil Amidst Middle East Tension.Risk Capital International broker Mark Stone cites the potential of war in The Middle East and other geopolitical issues for oil's recent price gain to $109, the highest level in the past year and a half.
By: Risk Capital International - Press Office He said "Oil prices have literally surged over 15% over the last 90 days due to worry that growing unrest in Egypt and civil war in Syria could potentially block supply routes but now with the advent of a possible military strike against Syria, we could see the price really rally." He goes on to say "Syria itself is not a major producer of oil but if a conflict in the region drags in Iran, a major producer of oil and syrian ally, we are likely to see a large increase in the price of a barrel of oil." Oil for October delivery in the U.S. climbed almost 3% or $3.09 closing at $109.01 a barrel on the NYMEX, the highest price in almost a year and a half. This is still significantly lower than it's highest price of $145.29 a barrel, reached on July 3, 2008. -------------- Risk Capital International has been a commodity and forex broker for over 10 years. With the ability to clear on almost every exchange worldwide and offices in Tokyo, Japan and San Jose, Costa Rica, Risk Capital International provides access to commodity and forex trading around the clock. Find out more at http://www.riskcapitalint.com Risk Disclosure: Past results do not guarantee future performance. Commodity and forex trading can involve substantial risk of loss and because of this only risk capital should be used. End
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