Oil prices spiked after the U.S. launched a missile strike on a Syrian government target. The strike, in which U.S. warships fired 59 Tomahawk cruise missiles at a Syrian government airbase, ramps up uncertainty in the oil-rich and politically unstable Middle East. "Geopolitics are often big drivers in oil markets," said Greg McKenna, chief market strategist at AxiTrader. Related: Trump launches military strike against SyriaThe potential reactions from Iran and Russia, both major oil producers, "will keep oil traders on edge," he said. "That uncertainty supports prices ... in the very immediate term."

Source: CNN April 07, 2017 02:40 UTC