WTI oil prices have climbed above $109 per barrel, in early trading, supported the real oil output outages that we have chronicled all week and the imagined fears over the fallout from a possible military strike on Syria. We use the word “possible” because the support for a strike on Syria by the House of Representatives is barely there. In fact, it might not be there, according to Politico. In terms of the fallout from an attack on Syria, the Wall Street Journal confirmed some of our speculation by reporting that the NSA has intercepted Iranian communications directing is its operatives in Iraq to attack US interests there, if Syria is hit. Note that it would not be direct Iranian action, merely the covertly sponsored variety.
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