The Trump Administration’s launch of 59 Tomahawk missiles into Syria Thursday night, sent shivers through the energy markets.
The strike on an airfield believed to be housing sarin gas was the first deliberate attack on Syria was in respond to the killing of 70 people with the gas allegedly done by Syrian President Bashar al-Assad troops.
Crude prices jumped $2 on the news of the missile attack, while global equity markets were off slightly on the news.
Trump’s military action puts Russia on the defensive in the years old battle with Syrian leadership. As a response to the attack, Russian President Putin dispatched cruise missile ships to the gulf region after he called the strike “an act of aggression.”
The white House through Secretary Of State Rex Tillerson said the attack was not a change of policy, but a response to thwart future gas attacks on the Syrian people by targeting Assad’s stockpiles.
US equity futures shrugged off early losses in the futures market on the developments and were little changed at 7am EDT, while gold moved higher by 1% to trade at $1,266 an ounce. european equity markets were down marginally in mid morning trading.