Bloomberg/Fuel Fix: Oil jumped as the U.S. cruise-missile attack against Syria roiled global financial markets. Futures in New York and London surged more than 2 percent to the highest in a month. The strike early Friday morning targeted hangars, planes and fuel tanks at one Syrian military airfield, according to a U.S. official. Syria borders Iraq, OPEC’s second-biggest crude producer. The news rippled across financial markets, with the yen and gold advancing as stocks declined. “It seems today’s spike is just a knee-jerk reaction to the missile strike,” said Thomas Pugh, a commodities economist at Capital Economics. “Syria produces little oil itself so the spike probably reflects the risk of increased tensions between the U.S. and Russia or Iran.” Oil had struggled to extend a rally beyond $51 a barrel as concern over surging U.S. supplies countered optimism around a possible extension to production cuts led by the Organization of Petroleum Exporting Countries. The strike aga...
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