Oil prices edge higher as markets weigh Syria tensions, demand woes
Investing.com-- Oil prices rose slightly in Asian trade on Monday as traders weighed an increased risk premium on heightened geopolitical tensions in Syria, although concerns over weakening demand persisted.
Al-Assad’s sudden ouster- by a group partly backed by Turkey and with deep ties to the Sunni Islamic sect- limits Iran’s foothold in the Middle East, and could also cost Russia a naval base in the Mediterranean. Still, Syria’s situation adds to ongoing geopolitical tensions caused by the Israel-Hamas war. Reports said Israeli forces had also entered Syria.from China added to the mix, as private spending in the country showed little signs of improving despite aggressive stimulus measures.
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