The U.S. cruise missiles that were fired on Syria will have severe repercussions for the global oil market. The current price hike could be short-lived, but new confrontations are already on the horizon. Analysts are wrong to expect that Trump’s military action has improved the Middle East’s situation. The political risk premium will be higher for the foreseeable future as instability has increased. Assad’s allies, Russia, Iran and Hezbollah, are openly confronting the U.S. and its allies. In a statement made by the joint command center, which is made up of Russia, Iran and militias supporting Syrian President Bashar al-Assad, the U.S. has been warned that the missile attack crossed “red lines”. The pro-Assad group reiterated that any new aggression will be met by military force. One of the main worries should be the cancellation by Russia of its cooperation with the U.S. (and others) with regards to operational […]