Oil prices rose slightly in Asian trade on Monday, despite concerns about heightened geopolitical tensions in Syria and falling demand.
Crude prices suffered big losses last week due to weak demand, but they were offset by increased tensions between Israel and Lebanon, which put some risk premium on the price. And the trend is expected to intensify.
However, China’s poor inflation figures, the world’s largest oil importer, are causing an economic crisis that is not only reducing crude profits but also raising concerns about slow demand.
The ongoing civil war has completely destroyed Syria’s production, but at the same time moderate management could increase production.
