Oil, gold to gain post Western strike on Syria

President Donald Trump addresses the nation about the U.S.-led airstrikes in Syria

President Donald Trump addresses the nation about the U.S.-led airstrikes in Syria

Amrita Sen from Energy Aspects said that despite Middle Eastern tensions and looming new US sanctions on Iran, she believed oil has outperformed most expectations this year and may have rallied too far too fast.

Haley made the remarks in an interview on CBS, saying the Treasury Department would announce the new sanctions and insisted the US has sent "a strong message" about the use of chemical weapons.

"I can really confirm that the sanctions are to be imposed on Russia without any link to reality", she said on Russian television. "Secretary Mnuchin will be announcing those [today], if he hasn't already, and they will go directly to any sort of companies that were dealing with equipment related to Assad and chemical weapons use".

Russian Federation on Saturday called US airstrikes on Syria "treacherous and insane" and a "clear and present danger to world peace".

The announcement of new sanctions comes shortly after the US, Britain, and France conducted "precision strikes" in Syria on Friday in response to a suspected chemical weapons attack that reportedly killed dozens, many of them children, in the rebel-held Syrian town of Douma.

In an indication that the West, too, would prefer to lower tensions, the United States and Britain both reiterated that their military action on Saturday was not aimed at Assad, Putin's ally, only at his use of chemical weapons. This was playing with fire after Russia - Syria's strongest ally - had warned that a missile attack would be met with force by Moscow, raising fears of a straight fight between the U.S. and Russia.

Haley declined to say how the US would respond if Syria uses conventional weapons.

UN Secretary-General Antonio Guterres, who delayed a trip to Saudi Arabia to deal with the Syria crisis, said he had asked special envoy Staffan de Mistura to return to NY as soon as possible to chart a way forward.

A Kremlin statement said Putin and Rouhani agreed that the Western strikes had damaged the chances of achieving a political resolution in the multi-sided, seven-year conflict that has killed at least half a million people.

Frank Benzimra, head of global markets for Asia Pacific at Societe Generale Corporate and Investment Banking, also said stocks were set to plunge only in case of new strikes by Western powers. "This is not about trying to turn the tide of the conflict in Syria", he told the BBC, adding that Russian Federation was the only country able to pressure Assad to negotiate an end to the conflict.

Assad denies he has used chemical weapons, and the Trump administration has yet to present hard evidence of what it says precipitated the allied missiles attack: a chlorine gas attack on civilians in Douma on April 7.

"And what's most important is no one contests that the use of chemical weapons can not be tolerated and must be deterred", he said.

The Pentagon said the air strikes hit "the heart" of Syria's chemical-weapons capability. What happens next, she said, is up to Assad and his Russian and Iranian allies.

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