INSUBCONTINENT EXCLUSIVE:
The global oil market experienced a significant uptick, with prices climbing over 1% on Monday
This surge was primarily driven by geopolitical tensions in Syria and anticipation of new economic stimulus measures in China.Brent crude,
the international benchmark, saw its most active contracts for February 2025 rise by 1.43% to $72.14 per barrel on the Intercontinental
Exchange in London.Similarly, West Texas Intermediate (WTI) crude futures for January delivery increased by 1.74% to $68.37 per barrel on
the New York Mercantile Exchange.The sudden fall of Syrian President Bashar al-Assad after 24 years of family rule sent shockwaves through
Syrian rebels claimed control of Damascus, forcing Assad to flee and ending decades of autocratic rule.This unexpected turn of events raised
concerns about potential instability in an already volatile area
While Syria is not a major oil producer, its geopolitical influence stems from its strategic location and ties with Russia and Iran.Oil
Prices Surge Amid Middle East Tensions and Chinese Stimulus Hopes
(Photo Internet reproduction)The regime change could potentially spill over into neighboring territories, adding to existing regional
This marks the first move towards easing since 2010.The Chinese government pledged measures to stabilize stock and property markets,
for increased production until April next year
underscore the complex interplay between geopolitical events, economic policies, and global oil markets
