I Might Be Wrong -- Musings On The Price Of Oil This Week

Updates

June 15, 2013: about that data point in my original post -- the "war by proxy"; I just love it when an article shows up later validating my hunches; Russia (Putin) outmaneuvers O'Bama over Syria -- the WSJ

June 15, 2013: worries that Syria conflict will wide drives oil prices up - WSJ; it looks like the Syrian premium is about $10; imagine the Saudi premium if it had significant rebel problems.


Later, 8:42 pm: I didn't see this until just now -- US Marines on the Syrian border to help move arms into Syria for the rebels. This DOES up the ante. One wonders ... 

Original Post

I noted earlier that the price of oil has surged a bit this week -- I said it was all due to the weakening dollar, but the tea leaves suggest I was wrong. Some data points:

• Syrian government vs Syrian rebels becoming a proxy for Putin's Russia against Obama's US (makes one think of the Spanish Civil War which was also a proxy war)
• Egypt Islamists rallying for Syrian jihad
• Michelle and family partying overseas; VP Biden running the White House situation room
• Saudi king cuts holiday short due to events in region
• Assad prepares for offensive -- needs to eliminate the players before they get their US toys
• Where's Kerry: stateside or overseas?
• Nebraskan neophyte as SecDef

It's still hard for me to believe that civil war in Syria would cause oil to spike but with the Russians getting involved AND Saudi concerned, maybe, just maybe ....