WTI and Brent jumped to one month highs on the news of U.S. airstrikes in Syria, and while direct risks to oil supply are limited, oil traders are on edge. (Click to enlarge) The U.S. launched airstrikes on a Syrian airbase late Thursday in response to the alleged use of chemical weapons by the Syrian government. The attacks come despite comments as recently as last week from the Trump administration that removing Syrian President Bashar al-Assad was not a priority. Secretary of State Rex Tillerson is scheduled to meet with his Russian counterpart in Moscow next week amid deteriorating U.S.-Russian relations. Syria produces only marginal volumes of oil, some of which has been under ISIS control. Nevertheless, due to its proximity to Iraq, a widening of the military conflict could induce a higher risk premium on oil prices. If action from the U.S. is limited to these airstrikes, oil […]