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Oil On The Rise

Oil jumps to above $108 a barrel on Syrian crisis

Photo credit: http://www.foxbusiness.com

SOURCE

BANGKOK — The price of oil jumped more than $2 on Tuesday, to above $108 a barrel, after the U.S. defense secretary said American forces were ready to act on any order by President Barack Obama to strike Syria.

By early afternoon in Europe, U.S. benchmark crude for October delivery was up $2.12 to $108.04 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 50 cents, or 0.5 percent, to close at $105.92 on Monday.