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Let's talk about Syria and how what's happening there is affecting the markets.
I see oil rising to two-year highs. I see gold rising to three-month highs. Let's see, what else is being affected? Oh, that would be nothing.
And today we find out that, with a touch of some levers somewhere, U.S. GDP growth wasn't really 1.7% in the second quarter, it was really 2.5%.
Let's talk about the GDP growth revision and how that's affecting the markets.
I see oil coming off its Syria-inspired spike and gold giving up some recent gains. Let's see, what else is being affected? Oh, that would be nothing. Well, maybe bonds just a bit.
How to Play the 'Syrian Premium' in Oil Prices
There's an uneasy lull in the Syrian crisis.
Now that the Obama administration has decided to seek Congressional approval for a Syrian strike, we are in a hazy period before some major decisions are made.
And while a Senate committee has approved a military move against Syria, further action will be slow to come. Congress is officially on recess until Monday.
How Syria Affects Oil Prices Today
As U.S. military personnel prepare for possible action against Syria, Brent oil prices are hovering near an 18-month high.
On Thursday, Brent oil prices retreated slightly, but remained elevated, after starting the day above $116 a barrel. Prices for West Texas Intermediate (WTI) also retreated by a little more than 1%, closing the day at $108.80.
Brent prices have climbed steadily following escalations across Egypt and the ousting of President Mohamed Morsi.
Meanwhile, in the United States, improved infrastructure and greater network access have fueled WTI prices to near par with Brent this month.
But Brent prices have spiked this week following news that the West may intervene in Syria, where a chemical attack was allegedly launched against civilians.
Despite warnings from Russia and China, it remains unclear whether the United States will intervene. However, any action is likely to set off a chain reaction across the Middle East and could affect trade within the region, especially on oil shipments.
Here are the details on how Syria affects oil prices, what that means for you - and how to profit.
Jim Rogers on Why Oil and Gold Are Headed "Much Higher"
Legendary commodity investor Jim Rogers sees some serious problems stemming from the situation in Syria and the end of the Fed's generous flow of money.
In an interview with Reuters on Tuesday, Rogers said "oil and gold will go much, much higher" due to a "market panic."
"I own oil, I own gold, I own things like that and if there is going to be a war, and it sounds like America is desperate to have a war, they're going to go much, much higher," Rogers said. "Stocks are going to go down, some of the markets that I'm sure are already going down, commodities are going to go up. I'm not particularly keen on war, I assure you, but it sounds like they want it."
Rogers continued, "No matter how well the plans are made, strange things happen in war and who knows what unintended consequence will come."
Equities have been hit hard over worries of a war with Syria. The rout started late Monday following comments from U.S. Secretary of State John Kerry that the United States has a moral obligation to act on Syria's chemical weapon attacks. Selling picked up steam Tuesday with the Dow plunging 170 points.
2013 Oil Prices: Where We Go From Here
There's been movement in crude oil prices in 2013 that investors should be watching...
Global oil prices diverged yesterday (Tuesday) as market factors both in the U.S. and abroad painted a very distinct picture for energy costs.
Options for West Texas Intermediate (WTI) for September delivery fell $2.14 to settle at $104.96 a barrel on the New York Mercantile Exchange.
These Fracking Trucks Reveal Energy's Most Underreported Boom
Now that the rig market for oil and gas projects is heating up again, it's time to invest where energy's big-money cycle actually begins.
After all, without a rig, a well is nothing more than a dot on a map.
That's why the oil field service (OFS) business always improves before the fortunes of field production companies.
But there's an even earlier link in this profit chain...
How to Invest in the Companies That Keep the Oil Boom Humming
Don't look now, but the rig market for oil and gas projects is heating up again.
After suffering through a period when rigs were being "retired" from the field, the pendulum is swinging back again. Rigs are suddenly in high demand -- and hold the secret to how to invest in the growing U.S. shale oil boom.
How to Invest in Oil as Pipelines Release Trapped Profits
The story of how to invest in oil in the U.S. is changing thanks to a new development...
Before now, much of the increased oil production (U.S. output at a 17-year high) from the Bakken in North Dakota and the Eagle Ford and Permian Basin in Texas never reached the marketplace. It simply piled up in storage facilities at the main U.S. oil hub in Cushing, OK.
The huge inventory of oil at Cushing was the main culprit behind domestic WTI (West Texas Intermediate) crude oil selling at a discount to the global benchmark, Brent crude oil.
But, as pointed out by Money Morning Global Energy Specialist Dr. Kent Moors, that is all beginning to change.
Already the spread between WTI and Brent has narrowed dramatically from about $20 a barrel in February to less than $3 a barrel today.
The reason for the change is the amount of pipeline infrastructure being added to move oil from the Cushing choke point to refineries on the Gulf Coast.
The Shale Oil Boom is Going Global (Starting With This Huge Deal in Argentina)
After almost 10 years of explosive growth in the U.S. and Canada, the shale oil and gas craze is going global.
Now, make no mistake. A head start in a business this critical is huge. But the rest of the world is catching up - and fast.
Is the U.S. Oil Boom Out of Balance?
It's boom time in Texas. From the Eagle Ford shale to the Permian Basin, it's practically raining money.
Now you would think that would be a positive for the local economies. But as this boom unfolds, it is not without its own share of problems.