Tag Archives: syria

Trump warns of ‘big price’ for backing Assad

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Another reported chemical weapons attack may pull President Donald Trump back into Syria’s civil war days after he said he wanted to withdraw US troops. CNN’s Abby Phillip reports on his reaction.

Oil prices jump after U.S. strikes Syria

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Crude oil futures jumped more than 2% to their highest level in a month after the U.S. Navy launched a missile strike on Syria.
By Jethro Mullen
Oil prices spiked after the U.S. launched a missile strike on a Syrian government target.
U.S. crude futures jumped more than 2% in early Friday trading after President Trump ordered the first direct American military action against the regime of Syrian President Bashar al-Assad. They pared those gains later.
The strike, in which U.S. warships fired 59 Tomahawk cruise missiles at a Syrian government airbase, ramps up uncertainty in the oil-rich and politically unstable Middle East.
“Geopolitics are often big drivers in oil markets,” said Greg McKenna, chief market strategist at AxiTrader. “The U.S. strike against a regime that is backed by the Russians, and in a country where the Iranians are active as well supporting the regime has the potential to cause further political ructions.”
The potential reactions from Iran and Russia, both major oil producers, “will keep oil traders on edge,” he said. “That uncertainty supports prices … in the very immediate term.”
U.S. crude, which suffered a sharp drop in early March, hit its highest level in a month on Friday. But by mid-afternoon in Asia, its gains had eased, leaving it trading up 1.2% at around $52.30 a barrel.
Syria itself is not a major oil producer, but the country is uncomfortably close to the Strait of Hormuz — a critical chokepoint through which millions of barrels of oil are shipped each day. An escalating conflict in the region could affect global supply.
Trump said the missile strike was in response to a chemical weapons attack on civilians earlier this week that the U.S. believes was carried out by the Syrian government.
The U.S. military action drove investors toward assets that are considered safer bets in times of uncertainty, such as gold and the Japanese yen. Gold prices shot up more than 1% to their highest level in nearly five months, while the yen strengthened as much as 0.7% against the dollar.
Stock markets were jittery. Japan’s Nikkei, which had been trading up more than 1% before news broke of the U.S. strike, sank into negative territory before regaining some ground. U.S. stock futures were down around 0.1%.
Major European markets edged lower, but London’s FTSE 100 index was slightly higher, supported by gains in oil stocks such as BP and Shell.
Matt Simpson, a senior analyst at ThinkMarkets, said the moves “are an understandable reaction, which followed a relatively sleepy week for markets.” Attention had previously been mainly focused on Trump’s meeting with Chinese President Xi Jinping and the U.S. jobs report due Friday.

The-CNN-Wire ™ & © 2017 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Trump to judges: Even a ‘bad high school student’ would rule in my favor

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By Kevin Liptak

President Donald Trump harshly criticized arguments against his temporary travel ban on Wednesday, discounting a legal challenge to the order as anti-security and lambasting the federal judicial system that’s weighing it as overtly political.

Seeking to lend his own legal argument for the order banning travel from certain Muslim-majority countries, Trump insisted that US president’s have wide authority to determine who may enter the United States.

As he read from US immigration law, the President declared that even a “bad high school student” could understand the language and find in his favor.

“I think it’s sad, I think it’s a sad day,” Trump told a group of major city police officers and sheriffs in Washington.

On Tuesday evening, a federal appeals court heard arguments in the legal battle over the travel ban. The California-based 9th Circuit Court of Appeals will decide soon whether to reinstate the executive order. Until then, his order that temporarily bars all refugees from entering the country, and all immigration from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen, is halted.

“I watched last night in amazement and I heard things that I couldn’t believe, things that really had nothing to do with what I just read,” Trump said during his event Wednesday morning in Washington.

He even offered criticism for his own Justice Department defense, saying: “I listened to lawyers on both sides last night and they were talking about things that had nothing to do with it.”

“I listened to a bunch of stuff last night on television that was disgraceful,” Trump continued, bemoaning courts he said “seem to be so political.”

But the President dismissed claims that he overstepped his bounds as ignorant misreading of the law.

“I was a good student. I comprehend very well, OK, better than I think almost anybody,” Trump said. “It can’t be written any plainer or better.”

Trump said his executive order was “written beautifully” and fully within the bounds of US statute.

And he claimed that national security professionals told him he couldn’t preview the order before it went into effect since it would led to terrorists “pouring” into the country.

The-CNN-Wire ™ & © 2017 Cable News Network, Inc., a Time Warner Company. All rights reserved.