Due to the continued conflict in Syria the price has been driven up steadily. The Saudi fields are not likely to be affected nor are those of Iraq. Regardless of the geography, the markets are quite concerned and are bidding the price up rapidly. We are, as is natural in such circumstances, taking positions for very short term expiries like hourly and end of day. No further out. We are looking at ranges from oil today at a level between 67.90 – 69.50 with a stop loss order between 66.63 – 65.55.
Middle East Shakes up the Markets
Daily Analysis - 12/04/2018