Potential for big oil price spike grows after provocative missile strikes

https://www.cnbc.com/2018/04/11/potential-for-big-oil-price-spike-grows-after-provocative-missile-strikes.html

The missile attacks by Iran-aligned Houthis aimed at Saudi Arabia's civilian areas and oil facilities have proven unsuccessful, but they are a provocation at a time when the Middle East is already at risk of a widening conflict.

With oil prices at a three-year high, it's possible prices could flare up even more if hostilities spread beyond Syria or Yemen, two hot spots that are seen as proxy wars pitting Iran against both Israel and Saudi Arabia.

The U.S. is set to strike Syria in the very near future because of its chemical attack on civilians, and both Russia and Iran have said they stand with Syria.

"We're at the pivot point. It's a binary outcome. If it's a pinprick in Syria, we've seen the price gains. We'll sell off afterwards. If Iranian assets, in particular in Syria, get hit, it's a game changer," said John Kilduff, energy analyst and founder of Again Capital.

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At least heating season is almost over in the Northern Tier....