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  • Gas Price Update and Outlook

    gaspump blueAverage retail gasoline prices in Washington have fallen 2.6 cents per gallon in the past week, averaging $3.91/g yesterday, according to GasBuddy's daily survey of 2,666 gas outlets in Washington. This compares with the national average that has fallen 4.9… Read More +

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  • $50 Million: Cost of WA Wildfires

    helicoptercarlsonThe cost of fighting this season's wildfires in Washington, including the largest one in the state's history, has crossed the $50 million mark. Bolstered by the nearly 400-square-mile wildfire in north-central Washington, this year's wildfire season has been widespread, with dozens… Read More +

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  • Lynch's Absence Means Opportunities In Seattle

    seahawks blueThe absence of Marshawn Lynch from Seattle Seahawks training camp means opportunity for Robert Turbin and Christine Michael. Turbin and Michael were already going to get the bulk of the work during the preseason with Lynch being prepped for the grind of the regular season. But with Lynch holding out, Turbin and Michael are getting a greater opportunity to show they can handle the load.

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Crisis in Syria Driving Up the Price of Oil

b_250_0_16777215_00_images_obgrabber_2013-08_625c380ecc.jpgComstock/Thinkstock(NEW YORK) -- Before the U.S. takes any of its presumed military action against Syria, the oil markets are already reacting, and not in a positive way for consumers. Fears that the Middle East could become destabilized and block the flow of oil sent the price of crude up to $109 a barrel Tuesday, an 18-month-high.

Prices actually began their upward movement during the past three months over fears that the Syrian conflict would spread outside its borders along with the current turmoil in Egypt, following the ouster of the country's Islamist president in early July.

A possible military strike against Syria wouldn't necessarily target its limited oil fields. However, industry analysts are worried that big oil producers Iran and Iraq could be affected, creating a shortfall of supplies that would further drive up the cost of crude and send prices at the pump in the U.S. soaring, at least temporarily.

Meanwhile, Libya, another oil supplier, has been hit lately by protesters stopping oil production in some of its fields. Political turmoil between the government and Islamic militants has also put Libya in a state of flux.

Copyright 2013 ABC News Radio

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