Obama cancelled a two-day trip to California planned for early next week. There are signs he might not have enough votes in Congress to approve a military strike in Syria.

syria vote

Obama could launch airstrikes with Congressional approval but it would severely undermine action and would be a damaging blow for his Presidency. There is talk Obama will host a national address to shore up support for an attack. At this point, he’s going to need help.

I think Obama may need to accept defeat if the vote fails. The result would be risk-positive and could mean a big selloff in oil.