BAGHDAD (Bloomberg) -- Plentiful oil supplies are pinning oil prices near a two-year low as the U.S. extends its campaign against Islamic State militants into Syria. Brent crude, which has traded below $100/bbl for more than two weeks, touched $95.60/bbl Sept. 24, the lowest since July 2012, after the broadest Arab-U.S. military coalition since the 1991 Gulf War struck Islamic State targets in Syria. U.S. aircraft began bombing the group six weeks earlier in Iraq, OPEC’s second-largest producer and holder of the world’s fifth-biggest reserves.
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Ample supply shields oil as U.S. jets hit militants in Syria
![Ample supply shields oil as U.S. jets hit militants in Syria]()
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