MTECHTIPS:-Oil Prices FluctuateOver Fears Of Western Air Strikes

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MTECHTIPS:-Oil Prices Fluctuate Over Fears Of Western Air Strikes Against Syria

MTECHTIPS-Oil prices fluctuated between mild gains and losses on Wednesday morning in Asia amid rising Middle East tensions and the possibility of air strikes on Syria in the next 72 hours. Crude Oil WTI Futures for May delivery were trading at $65.38 a barrel in Asia at 11:00 PM ET (03:00 GMT), down 0.20%. Brent Oil Futures for June delivery, traded in London, were down 0.30% at $70.83 per barrel. Europe’s air traffic control agency Euro control said air-to-ground and/or cruise missiles could be used within the next 72 hours. The U.S. and its allies are considering a strike against Syrian President Bash al-Assad’s forces following a suspected poison gas attack last weekend. Although Syria is not a key oil producer, the wider Middle East is the world’s most important crude exporter and tension in the region tends to disrupt oil markets. Oil prices remain supported by easing concerns over a prolonged trade dispute between the U.S. and China after China’s President Xi Jinping gave a speech on Tuesday with a conciliatory tone. Shanghai Crude Oil WTI Futures for September delivery were up 1.63% at 416.80 yuan ($65.15) per barrel at 11:00 PM ET (03:00 GMT) on Wednesday

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