Brent oil hits near six-month high on Syria fears

The prices of oil rose today with Brent crude striking a near six-month high on concerns about possible military action against Syria after Washington warned President Bashar al-Assad's regime over an alleged chemical weapons attack.
Brent North Sea crude oil at one stage reached USD 111.92 the highest point since early March. Brent went on to trade at 111.81 USD a barrel, up 1.08 USD compared with yesterday's close.
New York's main contract, West Texas Intermediate for delivery in October, was up 95 cents to 106.87 USD a barrel in today's trading.
"Crude oil prices rebounded today with Brent heading toward 112 USD per barrel, supported by persistent tensions in Syria following a suspected chemical weapons attack that raised the possibility of Western military action in the (crude-rich) Middle East," said Myrto Sokou, senior research analyst at Sucden brokers.

Washington had warned Syria yesterday that it would face action over the "moral obscenity" of a chemical weapons attack last week, which independent medical agency Doctors Without Borders has said left at least 355 people dead from "neurotoxic symptoms".
Syrian Foreign Minister Walid Muallem said today that his country would defend itself in case of any Western military strikes against it.
"We have two options: either to surrender, or to defend ourselves with the means at our disposal. The second choice is the best: we will defend ourselves," Muallem said in a press conference in Damascus.