Energy OverView August 27, 2013

Oil prices are spiking higher this morning, on the realization that, yet, another episode of US military action in the Middle East is nearing. Secretary of State made it clear that retaliation for the use of chemical weapons by the Syrian government is almost certain and necessary. From an oil market perspective, Syria represents the mother of all proxy wars. Iran and Saudi Arabia are involved on opposite sides. The Russians back the Assad regime