HOW OIL PRICES LEAPT UP

OIL prices spiked to a one-month high yesterday as the missile attack raised fears the conflict could spread and hit production in the region.

the price of Brent crude jumped more than a dollar in less than two hours – from $54.82 a barrel just before 2am UK time to $56.08. It later fell back to just over $55.

there are concerns rising oil prices could be felt by drivers at the fuel pumps. But Neil Wilson, an analyst at City firm etX Capital, said he thought it was a ‘kneejerk response’ and would not change things in the long term.

Syria has limited oil production but is next to bigger producers and there are fears any escalation in the conflict could risk supply.

Gold, foreign exchanges and bonds also reacted strongly after the attack.