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Russian energy minister comments on recent oil price changes

The impact of the US missile strike against Syria on the oil market requires further examination, the minister says

MOSCOW, April 7. /TASS/. Changes in the oil prices in several recent days are related to the decline of inventories in the United States and the impact of the US missile strike against Syria on the oil market requires further examination, Russian Energy Minister Alexander Novak said on Friday.

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"I think an extra market research [of the impact of US missile strike on the oil market - TASS] is required. As you can see, oil prices have been growing in several recent days but oil inventories, balances of oil products and the oil stock were the factor; they are declining for the second week in a row," Novak said.

The US military fired 59 Tomahawk cruise missiles at a military airfield in Syria’s Homs province overnight to Friday under instructions issued by President Donald Trump. The strike came in response to what Washington believes was the Syrian government’s use of chemical weapons in the Idlib province. The Pentagon said the alleged chemical attack was launched from this airfield.

Brent oil prices with delivery in June 2017 are currently adding 0.56% to $55.21 per barrel on the London-based ICE.

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Oil & Gas Oil price Syrian conflict

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