Oil Drops As Syria Concerns Eases

West Texas Intermediate crude fell to a six-week low on easing concern that Syria’s conflict will disrupt supplies and on rising production in Nigeria and Libya.
Crude dropped 1.1 percent as the United Nations Security Council worked toward a resolution based on the Geneva accord between the U.S. and Russia. The Organization for the Prohibition of Chemical Weapons said Sept. 20 it received an initial disclosure from Syria. Nigeria restored flows from three trunk pipelines that were sabotaged by vandalism and theft. WTI also slid on concern wrangling over spending may shut the U.S. government.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza