Oil Prices Jump over Possible Syrian Conflict
Market is in a tizzy
Prices for both U.S. crude, and Brent crude—Europe's benchmark—rose more than 2% Tuesday, as the U.S. government and its allies consider a military strike on Syria following the country's suspected use of chemical weapons.
The conflict has left investors reeling, with global stocks selling off and investors rushing to safer havens, such as U.S. Treasuries, where buying has pushed the yield on the 10-year note down to 2.7%.
"In a world when you don't know what to do, you buy government bonds," said Steen Jakobsen, chief investment officer at Saxo Bank.