Oil prices slide after Syria air strikes

  • Monday 16, April 2018 in 7:14 PM
Sharjah 24 – AFP: Oil prices slid on Monday after U.S.-led strikes on Syria did not provoke an escalation in the conflict, while equities were mixed.
"Even though investors have moved past the Syria missile strikes and are working on the basis that there will be no extended conflict or market-adverse retaliation, equity markets are struggling for direction," noted Interactive Investor analyst Rebecca O'Keeffe.
 
Crude prices, however, fell back after having run up to highs not seen since the end of 2014 last week as tensions rose ahead of the attack in the tinderbox oil-rich Middle East region.
 
"The strike on Syrian chemical locations over the weekend marks the end of the recent standoff," noted IG analyst Joshua Mahony.