Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
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The Turkish military have suspended flights over Syria, part of the U.S.-led campaign of airstrikes on targets of the Islamic State group, in the wake of Tuesday’s downing of a Russian warplane by a Turkish jet fighter, hurriyetdailynews.com reported on Friday.
Ankara claims that the Russian Su-24 bomber violated Turkey’s airspace for 17 seconds and didn’t respond to 10 warnings issued in the space of five minutes before it was shot down. Moscow says that there was no violation of Turkish airspace and no warnings were issued by the Turkish F-16 jets, one of which brought down the Russian plane with an air-to-air missile.
According to sources, who spoke on condition of anonymity, Turkey’s decision to suspend flights of its warplanes in the operations against the Islamic State militants in Syria was “in fact a mutual decision taken with Russia”, which also halted its airstrikes on targets in Syria located close to the border with Turkey, the Turkish media outlet said.
“Both parties will continue to be as careful as possible in a bid to avoid a repetition of such incidents until they re-establish dialogue channels to reduce the tension,” according to hurriyetdailynews.com.
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