Oil Prices Teeter as Syrian Upheaval Meets Chinese Stimulus Plans

Oil prices wavered Tuesday following Monday’s gains, influenced by Syria’s regime change and China’s economic stimulus plans. WTI crude rose slightly to $68.52 per barrel, while Brent crude dipped to $72.03. The fall of Assad’s regime in Syria introduced a modest risk premium, despite Syria not being a major oil producer. Concerns about potential impacts on Iran and Russia, key oil producers and Assad allies, contributed to market uncertainty. Meanwhile, China’s pledge for monetary easing and fiscal stimulus provided some support to oil prices.