Oil rises above $ 49 because of the risks in Syria
LONDON (Reuters) - Oil prices rose above $ 49 a barrel on Thursday as it dispelled the risk premium because of the situation in Syria, the impact of the economic slowdown in Asia and the increase in US stockpiles marks.
Russia began air strikes on Syria on Wednesday in Moscow for greater intervention in the Middle East for decades those attacks and reinforced fears that implements Washington and Moscow air strikes in the same area but without coordination between them.
By 1048 GMT, Brent crude rose 97 cents to $ 49.34 a barrel and had reached its highest level since Sept. 23 at $ 49.47 earlier. US crude rose $ 1.10 to $ 46.19.
Said Carsten Fritsch, analyst at Commerzbank, "the Russian military intervention in the Syrian conflict reinforced the geopolitical risks, giving a boost to prices."
Oil also got some support from the hurricane Joaquin, which increases its strength as it heads toward the Bahamas, according to the National Hurricane Center, although the outlook has not been resolved whether it will hit the US coast. He continues, energy traders Atlantic hurricanes as they may lead to the closure of a precaution to oil and gas platforms in the Gulf of Mexico and in exceptional cases lead to damage to the infrastructure of energy.
And limited signals on the economic slowdown in Asia and the increase in US inventories of crude oil gains. The surveys showed on Thursday, shrinking activity in China's factories and declining confidence of manufacturing companies in Japan.
And increased oil inventories in the United States increased by four million barrels to 457.9 million barrels in the week that ended on September 25, a larger than expected increase, according to a government report released on Wednesday.