Syria 'powder keg' could provoke oil ...

Syria 'powder keg' could provoke oil crisis

Posted in the Chicago Forum


Matawan, NJ

#1 Sep 4, 2013
Syria 'powder keg' could provoke oil crisis
by Massoud Hayoun
September 4, 2013 | 2:00PM ET

Market analysts say spillover from any military action could present a formidable risk to international oil supply

Americans may take a hit at the pump in the event of a U.S. military strike against Syria, analysts say, after the country's President Bashar al-Assad warned in an interview with French newspaper Le Figaro that Syria is "a powder keg" and that strikes on his country would trigger regional conflagrations -- even as the chances of a protracted offensive appear slim.

The U.S. Senate's draft legislation would restrict the proposed action to a maximum of 90 days, and would bar ground combat. That limit, coupled with an international outcry against the action, likely means that there's a "low-probability" any strikes would erupt into a regional conflict that would cripple oil exports of chief regional producers like Saudi Arabia and Iran, according to John Kilduff, an energy analyst and founding partner of Again Capital.

Still, "it's a risk that has to be observed," Kilduff told Al Jazeera of a potential blow to the international oil supply.

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