Energy Prospectus

Airstrikes on ISIS in Syria are likely to raise fears of ISIS attacks within Saudi Arabia. It will be interesting to see how this impacts the oil markets on Tuesday.

The U.S. and five Arab countries launched airstrikes Monday night on Islamic State group targets in Syria, expanding a military campaign into a country whose three-year civil war has given the brutal militant group a safe haven.
Using a mix of manned aircraft — fighter jets and bombers — plus Tomahawk cruise missiles, the strikes were part of the expanded military campaign that President Barack Obama authorized nearly two weeks ago in order to disrupt and destroy the Islamic State militants, who have slaughtered thousands of people, beheaded Westerners — including two American journalists — and captured large swaths of Syria and northern and western Iraq.

U.S. officials said the airstrikes began around 8:30 p.m. EDT, and were conducted by the U.S., Bahrain, Qatar, Saudi Arabia, Jordan and the United Arab Emirates. The first wave of strikes finished about 90 minutes later, but the operation was expected to continue for several more hours, according to one U.S. official, who spoke on condition of anonymity because he was not authorized to speak publicly by name about an ongoing mission.

To me it will be interesting to see Qatar's level of involvement. Rumors were that lots of money was going to ISIS from Qatar. Hard to believe Turkey not involved. Lots of ISIS targets are very close to Turkey. - Dan

turkey, imo, is not our friend. I believe they got their 49 turk hostages back by buying cheap isis oil. turkey leaders are under pressure from its citizens to get gasoline prices down.

One of our members asked me at the last luncheon how ISIS is able to sell oil. I told him that Turkey will buy every single barrel they can. I'm sure ISIS gives them a great price. What Obama should do today is tell the world that whoever buys ISIS oil is an "enemy".

On 60 minutes Sunday night, they said ISIS revenues may now be over $6 million per day. Much of it from selling oil to Turkey.

No surprise to see the response from Russia regarding the attacks on ISIS and the other al Qaeda group in Syria. Vladimir Putin, the patron saint of territorial integrity, has condemned the attacks, insisting that approval from his stooge Assad is needed before any attacks are done on ISIS in Syria. That's laughable given Russia's behavior in Ukraine.