Traders misunderstood a tweet from the Israeli Defense Forces (IDF) on Thursday, panicked and purchased more oil, thus driving prices up by $1 per barrel.
The confusing IDF tweet was about an Israeli air strike on Syria — one that happened 40 years ago. The tweet was in remembrance of the anniversary of the 1973 October War, also known as Yom Kippur War
Oct. 10 #YomKippur73: Israel Air Force bombards airports in Syria to prevent Soviet weapons reaching the Syrian Army http://t.co/tKnMzYjgFF
— IDF (@IDFSpokesperson) October 10, 2013
The tweet was marked with the hashtag #YomKippur73 and referred to “Soviet weapons,” but somehow, traders around the world missed those two signs and thought it was referring to a current attack on Syria, as first reported by Reuters Read more…
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Read more : One Misread Tweet Leads to Spike in Oil Price
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