Oil Prices Skyrocket After Trump Fires Missiles At Syria 

in Canada/USA/World by

Oil prices have jumped up to around $52.70 just a day after President Donald Trump fired 59 missiles onto a Syrian airfield damaging at least 16 war planes that were under maintenance.

Syria is not a major oil producer which can cause oil prices to rise but the overall geopolitical risk triggered the rise in market oil price after just one day.

Oil has been sitting idle at around $50 per barrel over the past few months, but work and drilling rigs have increased.

The United States has added more drilling rigs every month to their count for three months in a row now, rig count in the U.S. currently stands at 675.

The latest rig count according to Boereport stands at 642, down 20% from this time last year.

Trump said throughout his campaign he wants to increase oil production and approve pipelines, he kept his promise by the approval of keystone pipeline which will create thousands of jobs.

The future of oil is unknown at this point, but sources say with Trump as president, prices are sure to keep rising.