The Traderszone Network

Published in TZ Latest News 1 October, 2015 by The TZ Newswire Staff

Oil rises as Syria fighting intensifies; US worries over hurricane fade

Crude prices rose on Friday as fighting in Syria intensified, but remained on course to end the week largely unchanged as a hurricane was seen as less likely to affect U.S. oil facilities. Hurricane Joaquin, which on Thursday had prompted fears of storm damage to U.S. East Coast oil installations, was downgraded and is now seen as less likely to pose a major threat, the U.S. National Hurricane Center said. Traders said a political risk premium had re-entered oil markets over Syria, where Russia and the United States are carrying on bombing campaigns.