Energy Down With Oil As Middle East Tensions Cool -- Energy Roundup
Shares of oil and gas companies fell alongside oil futures, which retreated from a three-year high because of a sense that hostilities in Syria would not escalate.
The U.S. and its allies, the U.K. and France, bombed suspected weapons facilities in Syria after President Bashar al-Assad reportedly crossed what the allies considered a "red line" by carrying out attacks with chemical weapons. The targeted nature of the air strikes lessened the likelihood of a response from al-Assad's ally Russia, according to most analyses. Nevertheless, there are reports the U.S. was considering new sanctions against Russia related to the use of chemicals by its ally, hinting that tensions could yet rise further.
--Rob Curran, [email protected]