It seems like the Syrian issue is getting more and more complicated. The world is waiting for the USA to start a military campaign in Syria against the local government and its army. The US Congress has approved a strike on Syria without an UN resolution. Russia is still against the USA’s aggression against the Middle Eastern state of Syria. Can Russia respond to the USA? Will it influence the global market of crude oil? Let’s ponder on this question together with Masterforex-V Academy.
Syrian Issue
At this point, it is clear that Russia is going to respond to the USA’s military intervention in Syria. The question is what the reaction will be. There are several scenarios. Western experts say there are two scenarios: Russia will be complaining and publically condemning the USA’s actions or to keep supporting the Syrian government with weapons, thereby consolidating its military presence in the area.
At the same time, Russian experts say that Russia shouldn’t wait instead of letting itself be involved into another military conflict. It should wait till the USA is neck deep in another Middle-Eastern war, thereby loosing the grip on Russia’s intensions to reintegrate the former USSR area, turning it into a new superpower like the USSR.
Anyway, the current situation around Syria cannot but influence oil prices worldwide since the Middle East is a major source of crude oil and any instability or war lead to oil supply issues in Europe and Asia, which are some of the strongest economies and major oil consumers in the world. If the tensions escalate, we may well expect oil prices to go further up.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of Brent crude oil:
