Oil: an overview of the market situation

Oil prices rose sharply today, rising with up to five-week high, which is due to speculation that the tensions in Syria disrupt supplies from the Middle East.

Prices jumped by as much as 3%, which was associated with the application Syrian Foreign Minister Walid al-Muallem. During the press conference, he confirmed that Syria has all the evidence that it is gangs used chemical weapons in the Damascus suburb of East Huta. As he pointed out, who blames the Syrian armed forces, should provide the public with their arguments. Al-Moallem also said that he and U.S. Secretary of State John Kerry on August 22 held a telephone conversation, during which the Foreign Minister of Syria confirmed the country's interest in uncovering the truth about what really happened in Guta August 21.

According to Al-Muallem, all statements by the United States on the use of chemical weapons by the Syrian authorities are "entirely false."

Syrian Foreign Minister also said he believes that the United States is not going to take forceful action against Damascus.

We also add that President Barack Obama is currently not decided on a military strike on Syria in connection with an alleged himatakoy near Damascus. Earlier it was reported that air strikes on Syria may be applied as early as Thursday, September 29. As noted in the report, attacks can be applied for three days and will point. On Tuesday, the Western countries have notified the Syrian opposition about the possibility of attacking Syria in the coming days.

Meanwhile, it is worth noting that in the course of trade is also affected yield data on the United States. As it became known, in U.S. home prices continued to rise in June, but the pace may slow in the future, showed a report published on Tuesday S & P / Case-Shiller. Housing prices in 10 major U.S. cities rose by 11.9% in the year ended in June, according to S & P / Case-Shiller. Housing prices in 20 major cities rose by 12.1% compared with a year earlier, which is close to the expectations of economists 11.9%.

The cost of the October futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 108.94 a barrel on the New York Mercantile Exchange.

October futures price for North Sea Brent crude oil mixture fell to $ 113.97 a barrel on the London exchange ICE Futures Europe.