U.S. benchmark crude oil increased by 75 cents to $67.95 per barrel after it was announced that Assad's regime in Syria had collapsed.
Global oil prices rose Monday following the ousting of President Bashar al-Assad's 50-year family rule over Syria.The upheaval in Damascus has intensified uncertainty about energy supplies in the Middle East.U.S. benchmark crude oil increased by 75 cents to $67.95 per barrel, while Brent crude, the international standard, rose 69 cents to $71.81 per barrel.
President Joe Biden called it a 'fundamental act of justice' and pledged support for Syria and its neighbors during the transition.In U.S. markets, stocks continued their rally on Friday after strong jobs data suggested the economy remains resilient. The S & P 500 edged up 0.2 percent to 6,090.27, its third consecutive winning week—2024 is shaping up to be one of its best years since the 2000 dot-com bust.The Nasdaq composite gained 0.8 percent to 19,859.
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