Tweet recalling Yom Kippur war, 40 years on, jolts oil traders
NEW YORK (REUTERS) - Oil traders razor-focused on signs of escalating violence in the Middle East were jolted on Thursday by a Twitter posting from the Israeli military that, at first glance, suggested they had just bombed Syrian airports.
Oil prices jumped US$1 (S$1.25) as the talk raced through oil markets, which frequently react quickly to rumours of geopolitical events and where traders have increasingly turned to the Internet and social media for advance warning of escalating risks, from the Arab Spring to the Iranian nuclear stand-off.
The Tweet was true, but it wasn't news. The posting referred to an attack 40 years ago in the Yom Kippur war, the latest in a series of Tweets from the Israel Defence Forces (IDF) Twitter handle (@IDFSpokesperson) commemorating the war.
The Tweet just before 10.30am EDT (8.30pm Singapore time) stated: "Oct 10 #YomKippur73: Israel Air Force bombards airports in Syria to prevent Soviet weapons reaching the Syrian Army". It then links to a website that gives a day-by-day account of the war.