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Oil surges to 3-year high on Syria tensions; Where next?

Oil prices have rallied to their highest levels since December 2014 following a marked increase in geopolitical tensions in the Middle East, which threatens to disrupt crude production in what is a key area. With reports that Saudi Arabia are targeting $80/barrel for Brent Oil (Wednesday’s high was just above $73) will there be more upside ahead or is this rally overdone?

 

 

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