Oil Prices Rise Because of Syria and Saudi's Greed; Was This A Calculated Move?
Middle East tensions affecting oil prices is not good sign, or should I say that it was expected...Also Saudi Arabia going through a costly reform maybe increase the prices from $80 to $100.
The Middle East is never stable and now the recent tensions have increased the oil prices from the region, Saudi is now charging more than before due to the reformation the country is going through, therefore taking advantage of that they have decide to increase their income.
Before the missile strikes, the western leaders probably knew that this was going to be an outcome but they decided it anyway because whoever controls Syria it seems controls the world at this point in time. So to them it doesn't really matter if oil prices due to the tension, however they do understand the negative impact of it but seems they are ready to pay the price. (Donald Trumps isn't)
Saudi as well as increasing their prices have also implemented taxes and VAT into their laws and system. This shows that the regime is going through some changes in it's economic system, which seem pretty non existent before. It has also opted to open up resorts and other recreational places in order to earn a better income.
Given that Iran also exports oil and it's recent tension with Israel and the US, the country has increased the prices of it's oil exports. This seems logical as their economy isn't doing very well at the moment in terms stability.
At the end of the day, countries like these always work behind the scene. Sending missiles into Syria was a diversion to cover up something that was happening behind the scenes, which means it was a public stunt to gain favour of the public (which failed to work). However, with oil prices rising Donald Trump has lashed out at the OPEC for artificially raising the prices, something he isn't too happy with. But then again he should've expected it when sending those missiles into Syria.
As danger in the region creates conflicts which increases the risk of procuring and selling oil, which then has to be reflected upon it's selling price.
But we will have to wait and see how other countries react.