(OILPRICE) — “Will we help Syria? We will!”

The statement made by Russian President Vladimir Putin to help its long-time ally in the case of an attack, caused global oil markets to tremble, and saw West Texas intermediate crude rise for the second day in a row. Traders became fearful that such a declaration of intent is a sign of increasing tensions, and an indication that some form of conflict with the potential to disrupt Middle East oil exports, is imminent.

Ever since it alleged proof has arisen claiming that President Bashar al-Assad was responsible for the chemical attacks against civilians living on the outskirts of Damascus, US President Barrack Obama has been trying to gain support for a military strike into Syria.

  • Text smaller
  • Text bigger
Note: Read our discussion guidelines before commenting.