Trump's Syrian Airstrikes Spark Jump in Oil Prices

Global oil prices have gone up since president trump's airstrikes on Syria.

The price per barrel for benchmark West Texas Intermediate crude has jumped nearly $3 dollars in seven days.

WTI opens trading Tuesday at $53.19 a barrel, up from $50.24 on April 3.

World markets have reacted immediately to the show of force in the Middle East -- but the effects increasingly depend on where you are on the globe.

Markets are far more fractured than they were in OPEC's heyday, so oil expert Baron Lukas can see Texas coming out stronger – because of Permian Basin production that is expected to hit record levels this year.

Lukas said the airstrikes in Syria doubled as a business-minded statement to three other countries: Russia, Iran and North Korea.

Lukas, a retired colonel, says you can't un-bundle oil and politics when it comes to the Middle East, so Trump's approach showed authority and commitment.

Sponsored Content

Sponsored Content