The Conflict in Syria: Key Issues and Consequences on the International Market of Crude Oil
At the end of August 2013, the international prices of Brent crude rose to a 17-month high ($ 117.8 /barrel) as Western powers, mainly USA, readied a military strike against Syria, and traders and analysts cited concerns over stability in the Middle East. The main concern was the risk that Western intervention in Syria could prompt a wider regional conflict, given the support that Iran has provided to the regime of Syria. The attack failed to materialize, because U.S. and Russia reached an agreement with the goal of disarming Syriaâ€™s chemical weapon arsenal, and consequently the prices declined, but the risk of geopolitical and social unrest movementsAlpha is still high, so that a reactivation of geopolitical tensions in the extended area of Middle East and north Africa is anytime possible with the afferent disruptive effects on the international oil market. We tried to answer to some questions in order to clear up the background of the problem: 1) What was the real stake of the U.S. plan to intervene in Syria: the concern generated by chemical weapons or U.S. geostrategic interests in the wider Middle East? 2) Why Syria matters to oil market, given that it is not a major oil producer (as was Libya), nor is it a major transit point for oil and gas exports (as is Egypt)? 3) The aftermath of a serious military action targeted against the Middle Eastern country and â€œqui prodestâ€? 4) Will Iranâ€™s possible return to the world oil market send oil prices down, and how much?
Volume (Year): 5 (2013)
Issue (Month): 3 (September)
|Contact details of provider:|| Postal: |
Phone: 004 021 4105596
Fax: 004 021 4105020
Web page: http://www.iem.ro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:iem:journl:v:5:y:2013:i:3:id:2822000008747023. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ionela Baltatescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.