Energy Rises As Predicted Due To Bombing
Jeffrey C. Borneman | September 24, 2014
The MDEF™ Investing strategy predicted that if the price of oil were to fall too low, military action to limit supply would occur somewhere. Today it was American air power striking Syrian refiners in Eastern Syria ostensibly to limit ISIS cash flow.
CNN reports that "U.S. and coalition warplanes pounded ISIS positions in eastern Syrian, targeting oil installations (emphasis mine) being used by the so-called Islamic State terror group," a U.S. official said today, adding: "The latest round of airstrikes appeared to be part of the effort to cut off money flowing to ISIS, which has been selling the oil to help fund the group's efforts."
The result of targeting oil installations? West Texas Crude (WTI) rose $1.35 bbl back to $92.91 bbl.
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