(Bloomberg) -- Oil prices shot up after the U.S. launched a cruise missile attack against Syria. West Texas Intermediate climbed as much as 2.4 percent to a one-month high of $52.94 a barrel in New York, with Brent crude up 2.2 percent in London. The price spike from potential short-squeezes due to geopolitical risks may prove temporary as long as the military action is well-contained, as Syria is no longer a significant oil producer, according to Nomura Holdings Inc.
To contact the reporter on this story: Sharon Cho in Singapore at ccho28@bloomberg.net.
To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net, Sungwoo Park, Anna Kitanaka
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