Syria and the Geopolitics of Oil

The global energy market is ruled by geopolitics. With tensions continuing in Egypt, Libya and Iran, and with Syria now added to the mix, things are looking shaky in the Middle East. This week, Counting the Cost discusses what might happen, and how the markets can avoid more potential oil shocks. When there is the threat of trouble in the Middle East, the price of oil usually starts to climb. This week, US oil prices hit a two-year high as traders worried about what looked like the ever-more-probable chance of military action against Syria.