The prospect of U.S. military strikes on Syria has helped boost crude oil prices in recent weeks. West Texas Intermediate, or WTI, oil futures, which averaged $94.29 per barrel for the first half of 2013, closed at a 28-month high of $110.53 Sept. 6. While Syria is not a major oil producer, its proximity to critical shipping lanes, pipelines and the Suez Canal has traders worried about a disruption in oil logistics, even in the event of limited hostilities.
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Contact: Desiree Torres [email protected]