Oil Climbs After Failing to Break Through $40 as France Attacks
- WTI futures slipped to $40.06 earlier, least since August
- Islamic State positions are bombed after Paris terror assaults
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Oil rebounded in New York after failing to drop below $40 a barrel as France dropped bombs on Syria, heightening tensions in Europe and the Middle East in the wake of deadly terrorist attacks in Paris.
West Texas Intermediate crude advanced 2.5 percent after touching $40.06, the least since August when prices tumbled to a six-year low. French President Francois Hollande vowed to boost security spending, limit constitutional protections and win a war against Islamic terrorism. Warplanes bombed Islamic State’s nerve center in Raqqa after France said Europe’s worst terror attack in a decade was directed from Syria.