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Ben Geman Apr 12
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Geopolitical risk sends oil prices to 3-year high

Geopolitical tension including the prospect of U.S. strikes against Syria helped to send crude oil prices to their highest levels in over three years during trading yesterday.

Data: Money.net; Chart: Chris Canipe/Axios

What they're saying: In a note Thursday, a Barclays analyst predicted that geopolitical events could keep Brent prices above $70 over the next couple of months, though they see a downward trend in the second half of the year. "Over the near term, however, prices continue to benefit from a perfect storm of stagnant supply, geopolitical risk, and a harsh winter," Michael Cohen writes.