West Texas Intermediate crude oil trades up 1% at $ 52.26 a barrel, a one-month high, after the United States launced 59 cruise missiles at military targerts controlled by Syrian President Bashar al-Assad in response to Monday’s chemical attack that killed at least 80 people. WTI hit an overnight high of $ 52.94 before paring its gains.
Oil prices typically spike when there is geopolitical uncertainty.
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Meanwhile, Brent crude oil, the international benchmark lags, trading higher by 0.7% at $ 55.30 a barrel. The enrgy component hit a high of $ 56.08 before trimming its gains.
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