Interesting. News like this would have made the price of oil go up in the past. However, since that does not suit the purpose of those manipulating them markets right now, oil doesn’t move. Pretty wow, no?
Two items.
Fairly insignificant oil production from that area today.
Secondly, World Oil is still dealing with an oversupply.
If all the oil produced in Syria was shut off, I don’t think we would see even regional shortages (outside of Syria), let alone a global impact. There is a lot of oil in storage today; Contango is already in effect.