The recent surge in crude oil prices was driven by the imagined fears over supply disruptions due to a possible military strike on Syria, and underpinned by the reality of lost oil output from Libya and other countries. We keep referring to it as the sizzle and the steak. Well the sizzle and the steak were removed from the market, to a degree, yesterday. Russia ran with Secretary of State Kerry’s sarcastic suggestion that if Syria gave up its chemical weapons, all would be good. Yeah, right, he seemed to infer. The Russians are trying to make it all good, and the Syrian government claims to be going along.
Energy Overview — TotalView™ of the Energy Markets