Oil prices rose today, trading near a one-month high after the US fired missiles at a Syrian government air base, raising concern that the conflict could spread in the oil-rich region.
The toughest US action yet in Syria's six-year-old civil war has ramped up geopolitical uncertainty in the Middle East.
This supported oil futures, which were on track for a 3% weekly increase on signs of higher US demand and lower product inventories.
Although Syria has limited oil production, any escalation of the conflict feeds fears about oil supplies due to the country's location and alliances with big oil producers in the region.
Oil, gold, foreign exchange and bond markets reacted strongly to the attack but reversed some of the sharp moves after monthly US employment figures came in weaker than expected.
Brent crude futures were up 28 cents at $55.17 a barrel this evening after reaching an intraday peak of $56.08, the highest since March 7, shortly after the US missile strike was announced.
US West Texas Intermediate (WTI) crude futures were up 37 cents at $52.07 a barrel, having reached an intraday high of $52.94.
Oil came off session highs as US economic data weighed on global markets.
Some analysts said the conflict in Syria had no bearing on oil fundamentals and the political risk premium could vanish quickly.
Traders also eyed news from Canada, where two oil sands producers have cut production due to a shortage of synthetic crude following a plant fire.