SocGen: Brent crude could surge to $150/bbl if Syria
conflict spreads
- Brent crude oil, already at six-month highs of ~$117/bbl, likely will rise towards $125 if the West launches air strikes against Syria and could spike as high as $150 if the conflict spills over into the rest of the Middle East, Societe Generale analysts say.
- The big worry is Iraq: "The Sunni vs. Shiite conflict in Syria has a direct parallel in Iraq, and the violence in Iraq has reached levels not seen since 2008," SocGen's global head of oil research writes.
- Don't forget Libya: While the headlines focus on Syria or speculations about the Suez canal or the Strait of Hormuz, the current supply disruption in Libya is as real as in 2011, analysts say.
- ETFs: USO, UCO, OIL, BNO, DBO, OLO, USL, CRUD, DTO, SCO, SZO, DNO, UOIL, DOIL, UWTI, DWTI.
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