Bombing Syria will bump Oil Prices


Oil hit a three year high after President Trump Tweeted missiles are coming in Syria. But analysts warn higher oil prices may be temporary.

Oil industry analyst Mike Lynch says war in Syria would lead to higher prices.

"If Russia were to retaliate it raises the issue you might see a broader conflict and that would be more worrisome and tend to drive up oil prices."

But Lynch says investors shouldn't count on a prolonged conflict.

"There's a point at which, probably, all the threat will end and then prices could come down pretty sharply, so they should be pretty careful about that."

Lynch says he doubts this will have much of an impact on summer gasoline prices.

"I think this will be a relative blip; it may last a week or two but I don't think we'll see much of an impact beyond that."

Lynch says if the Russians retaliate for a U.S. strike on Syria and the Iranians are involved, there's no doubt oil prices will rise. Oil hit a three-year high this week after President Trump seemed to promise a strike on Syria.


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