Oil prices climbed 2% on Monday in the wake of the defeat of the Assad regime.
Syria, which is not a major oil producer, has endured severe economic damage over the course of a nearly 15-year civil war.
“There is some uncertainty about what’s going to arise in the place of the Assad regime,” Fitzgerald said. “Syria is not a meaningful producer,” Gian Maria Milesi-Ferretti, a senior fellow in economic studies at the Brookings Institution's Hutchins Center for Fiscal and Monetary Policy, told ABC News.
A man stops to fill up his car at a gas station on Rhode Island Avenue, Nov. 26, 2024, in Washington, D.C.Some experts who spoke to ABC News identified Iran as the most likely site of a potential oil price shock if further conflict emerges in the region.
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