Barbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter @bkollmeyer.
Oil prices rebounded from two-week lows, climbing on Friday after U.S. warplanes bombed targets linked to Iran in eastern Syria, ratching up tensions in an already tense Middle East.
The Pentagon claims 19 attacks in total across U.S. bases and personnel in Iraq and Syria since Oct. 17, a number that includes three fresh attacks on Thursday. “The country ramped up its daily oil production by around 500,000 barrels in the first half of the year, which according to the IEA means it is set to make the second-biggest contribution to the growth in oil. As such, Iran is again accounting for a good 10% of OPEC output,” said Barbara Lambrecht, commodity analyst at Commerzbank, in a note to clients.
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