Syria ‘has benign impact’ on commodities

<p>Commodities should be mostly unaffected by the Syrian civil war.</p>

Most commodities should not be affected by the ongoing Syrian civil war, although oil prices have risen due to the instability of the Middle East region.

According to Keith Wade, chief economist and strategist for Schroders, concerns over Syria have been escalating in the last few days after president Bashar al-Assad was accused of using chemical weapons.

The United Nations is currently inspecting sites in Syria to gather evidence over the usage of chemical weapons, which Mr al-Assad says was by rebels against government forces.

Mr Wade pointed out that intervention from the US now seems likely, although the UK's parliament vetoed any British involvement in a late night vote yesterday (August 29th).

"The recent spike in oil prices is unhelpful as it will add to inflation, acting like a tax on consumers. However, the increase seen so far is not sufficient to cause a significant problem with US gasoline prices," he said, noting the overall impact of the Syrian civil war on the value of commodities is set to be "benign".

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