Turmoil in Middle East – Oil Prices Rise

The turmoil in the Middle East caused the oil price to rise Tuesday on the London market, responding to an announcement that Turkey had shot down a Russian plane over Syria. One analyst commented, “News of a military jet crashing in Syria is a reminder that there is still substantial risk in the Middle East,” which impacts crude oil supplies. Brent and West Texas intermediate both rose 1.1% in early trading.