Experts: Oil will jump to $ 200 global markets in the event of the complexity of the military operation in Syria

August 29, 2013 14:53

Kuwaiti experts confirmed in the economies of oil that oil prices in the global markets will jump to $ 200 a barrel in the event of branched out a possible military strike on Syria and spread to the outside Syrian territory for long periods.

They stressed that the Arab Gulf region is the key that sword decrypt prices, according to the impact of the crisis on the Gulf region, pointing out that the length of time plays a key role and size of region that Sttolha the crisis taking place at the moment.

It is, said oil expert and president of the Center horizon for Studies Khaled body that high oil prices over the past few days was due to a vow of war and the possibility of the strike to Syria, pointing out that with the beginning of a military strike will increase prices by about $ 10 just as long as they remained inside Syrian territory a barrel on global markets to the $ 125 range.

He pointed body that the crisis if it spread to the neighboring countries of Syria, the oil supply will be affected too much and thus will jump prices for numbers is unprecedented, noting that he and the demise of this crisis will return prices to normal quickly as long as supplies will remain in its normal size as well as the volume of demand.

He explained that the oil prices in the current year was strong because of tensions in the region as well as the clear improvement in the economies of some influential countries such as the United States, though this improvement in the economy is limited.

He also quoted "KUNA" that scale, which is the price of oil at the moment is $ 115 and that in the event of the outbreak of war in the region will reach the price per barrel to above the $ 150 has up to $ 200 if they widened the circle of war and affected the supply quantities large.

And that speculation plays a major role in this tense atmosphere and find a viable market and that the current time is the perfect time for these speculations that are active in such atmosphere and would soon return to recession after the stability of the situation.

For his part, an expert on strategies oil Sheikh Fahad Al Daoud morning that the Syrian crisis will throw a shadow strongly on prices and increased fit and according to age military strike potential or perhaps uncertain, pointing out that if interfered with some oil-producing countries influential will be the results catastrophic for prices that will jump leap unusual.

Daoud predicted that prices of up to $ 140 range in the event of a military strike was limited to the Syrian border, but if I came out of this range, it will reach $ 200 quickly, but the demise of these effects of new prices will return to normal.

He reported that the continuation of the strike for a period exceeding one month jump prices perhaps more than that, especially since this will affect the strategic stockpiles and supplies that will not compensate for the demand that will thrive amid fears consuming countries of Petroleum and that Stlht for oil at any price was.

He also quoted "KUNA" the current climate is the best for speculators to bet on the rise and fall of prices that these factors influencing secondary and accommodate all the possibilities in this area that live on a Hot Tin which may evolve where it to stop oil supplies to the world in a signal that the Middle East region, especially the Gulf Arab oil is the key.

The oil expert and professor at Kuwait University, Dr. Talal Al-Bathali explained that Syria is not the country's oil influential in prices and a military strike against her will not affect the price by more than 5 to $ 10 higher at best, noting that concerns regarding that affect the crisis, other countries in the region have an impact on the supply of oil, "which is very likely."

In addition to that Syria is not a country petroleum pointed out that it does not pass through its territory for oil supply lines and the price will fall quickly in the event of a military strike stopped and possibly in the same day that the military operation ceases.

He hinted the arrival of oil prices to the $ 200 range with ease if the longer fragments war countries such as Iraq, Turkey and the Arab Gulf and Iran, but he also said that the outlook is not definite and all possibilities are open.

He explained that there are promises not to prolong Western military strike and not exit from the Syrian border, so do not jump oil prices فتضر the product and the consumer at the same time.

He Bathali that speculation in world oil markets live in the moment brightest periods in a state of uncertainty and instability in the markets, and that did not report stage peak yet, but no doubt the atmosphere can be described paradise speculators who are playing on prices and trades short-term.

He said the rise in prices this week was caused by speculation, which relied on the atmosphere and tension hazy position on a military strike against Syria may enter the world in a dark tunnel and intervene where many countries to expand the scope and duration of the war.

Bathali stressed that the Arab Gulf region remains the key to whether oil prices to rise or fall by virtue of owning this region for most of the oil in the world in terms of production or reserves and this affected prices of any tensions that occur in this region.

It is noteworthy that oil prices jumped yesterday in global stock markets, where the price of Kuwaiti crude oil in trading Wednesday $ 21.111 a barrel, up $ 84.3 an increase of 5.3 percent compared to $ 37.107 in yesterday's trading.

While the price of crude jumped reference Brent crude to its highest level in six months on Wednesday by more than five percent in two days and rose Brent futures for October delivery 25.2 to $ 61.116 per barrel at the settlement.

As U.S. crude rose $ 09.1 to the level of 10.110 dollars per barrel when compared with the previous day settlement.


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