Crude Climbs to Two-Year High on Syria

West Texas Intermediate crude rose to a two-year high as Russian President Vladimir Putin said his nation will assist Syria if it’s attacked, raising concern that escalating tension will disrupt Middle East oil exports.

Prices climbed 2 percent. Putin said that Russia may resume deliveries of advanced S-300 anti-aircraft missiles to Syria if the U.S. President Barack Obama carries through on a threat to punish Syrian President Bashar al-Assad for allegedly using chemical weapons against civilians. Crude also gained on speculation that the Federal Reserve will limit its stimulus reduction following slower-than-expected jobs growth.