Crude Rose For Second Day Amid Talks To Resolve Syria Crisis
ICM Brokers | Sep 13, 2013 04:48AM ET
Crude climbed a second day ahead of talks between the U.S. and Russia to resolve the crisis in Syria, a conflict that’s bolstered concern that Middle Eastern oil supplies may be disrupted. Crude rose 1 percent as U.S. Secretary of State John Kerry met in Geneva with Russian Foreign Minister Sergei Lavrov to discuss a plan for Syria to surrender its chemical weapons. President Barack Obama has made their use the rationale for a potential attack on Syrian President Bashar al-Assad’s war-making ability. Assad made what may be unacceptable conditions for the U.S., saying that threats and arming rebels must end.
GOLD
Gold headed for the biggest weekly loss in more than two months on expectations that the U.S. Federal Reserve will taper stimulus, and as the threat of a U.S. attack on Syria eased. Gold fell to $1,320.32 an ounce, the lowest level since Aug. 15, before gaining 0.5 percent to $1,328.57. Prices dropped 3.2 percent yesterday, and are set to slump 4.5 percent this week, the most since the period to June 28.
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