Oil Jumps After Saudi Official Floats "Trial Balloon" Op-Ed Envisioning "Oil Weapon" Devastation | WHAT REALLY HAPPENED

Oil Jumps After Saudi Official Floats "Trial Balloon" Op-Ed Envisioning "Oil Weapon" Devastation

WTI Crude prices are up around 2% in the early Sunday trading after Saudi Arabia appears to be now attempting to go on the offensive and is lashing out as it does damage control in the aftermath of journalist Jamal Khashoggi's alleged murder inside the Saudi consulate in Istanbul nearly two weeks ago.

What likely sparked the risk premium was the fact that Turki Al Dakhil, who heads the Saudi state-owned Arabiya news network, wrote in an article that U.S. sanctions against Saudi Arabia could wreak havoc on the global economy by taking oil prices to $200 a barrel and more. Faisal bin Farhan, a senior adviser to the Saudi embassy in Washington, said on Twitter that these comments didn’t represent the Saudi leadership.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA