Wednesday, 28 August 2013

Syria fears keep markets jittery as oil price steadies

Brent Crude Oil Futures $/barrel
Last Updated at 28 Aug 2013, 17:30 GMT *Chart shows local time Brent Crude Oil Future intraday chart
price    change   %
    115.69      
+1.33           
+1.16


The possibility of military action against Syria has continued to shake up global markets.

The price of oil, which has soared this week, steadied throughout Wednesday afternoon.

Europe's share markets have fallen, yet US markets opened flat, with the dollar gaining alongside other haven currencies.

The price of gold also climbed, as risk-averse investors looked for traditionally safe investments.

Shares in airlines dropped on the looming threat of higher fuel costs. Earlier on Wednesday Brent crude oil had hit a six-month high above $117 a barrel, although the price then fell back.

US crude oil touched its highest price since May 2011, rising to $110.17 a barrel, before also coming off its peak.

International Airlines Group, the owner of British Airways, saw its share price fall 4.49%, while Easyjet's share price dropped by more than 1.78%.

No comments:

Post a Comment