BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (https://pmc.platts.com), Please navigate to Platts Market Center to reset your password.

In this list
Oil

Crude oil futures lower as markets digest US-led strike in Syria

Agriculture | Grains | Sugar | Coal | Oil | Crude Oil | Polymers | Tankers

Market Movers Asia, Jul 23-27: US-China trade tensions continue; soybean CFR China premiums in free fall

Oil

Platts Rigs and Drilling Analytical Report (RADAR)

Asia Pacific Petroleum (APPEC)

Oil

China data: Commercial crude stocks unlikely see further build in H2

Crude oil futures lower as markets digest US-led strike in Syria

Crude oil futures were declining Monday morning during Asian trade as theoil complex began the week in negative territory after the strike by the US,UK and France on suspected Syrian chemical weapons facilities proved limitedin scope.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

At 9:39 am Singapore time (0139 GMT), ICE June Brent futures contract was73 cents/b (1.01%) lower from Friday's settle at $71.85/b. NYMEX May lightsweet crude was 61 cents/b (0.91%) lower at $66.78/b.

Crude futures had rallied over $5/b last week after US President DonaldTrump threatened to bomb Syria's Bashar al-Assad regime in retaliation for asuspected chemical attack April 7 in the town of Douma.

That rally also pushed NYMEX crude above its Bollinger Band upper limit,suggesting the contract had veered into overbought territory.

Without signs of the Syrian conflict escalating over the weekend, sometraders may be taking profits leading to Monday's pullback.

Syria produces very little oil, but traders were concerned that abroadening conflict with Assad's supporters -- Russia and Iran -- coulddisrupt oil flows out of the Middle East.

US defense secretary Jim Mattis said in a news briefing Friday that"right now we have no additional attacks planned," although the Trumpadministration did not rule out additional attacks if Assad continues to use chemical weapons.

Russian President Vladimir Putin condemned the airstrike, but so farthere has been no escalation of the conflict with Russian and Iranian forces.

Iranian Supreme Leader Ayatollah Ali Khamenei, called the US-ledairstrikes on Syria a "crime."

The UN Security Council rejected an effort by Russia to pass a resolutioncondemning the airstrikes during an emergency session held Saturday.

--Geoffrey Craig, geoffrey.craig@spglobal.com

--Edited by Irene Tang, irene.tang@spglobal.com