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As Oil Declines, The UAE Is The Safest Bet In The Middle East
While the stalemate against the Islamic State, or ISIS, sits just a few hundred miles away and oil receipts dropping by the day, the glittering skyscrapers and perennially superlative-laced cities of the United Arab Emirates are filled with citizens and expatriates sitting by brand-new pools, sipping cocktails, and checking their swelling bank accounts. Even these … Continue reading
The Iran Obsession – What Ails The Kingdom Of Saud?
Just as the international community embraces the prodigal Iran back into the fold, Saudi Arabia is trying to reverse the return to grace of its nemesis. Intent on protecting its legacy, is there anything the kingdom won’t do to paint Iran as the enemy? By Catherine Shakdam The grand hegemon of the Middle East, Saudi … Continue reading
Commodity Prices Expected To Remain Weak In 2015 Despite Slight Rebound In Oil Price
The World Bank is nudging up its 2015 forecast for crude oil prices from $53 in April to $57 per barrel after oil prices rose 17 percent in the Apr-Jun quarter, according to the Bank’s latest Commodity Markets Outlook, a quarterly update on the state of the international commodity markets. The Bank reports that energy … Continue reading
Saudi Arabia To Increase Military Budget By 27 Percent By 2020
“Saudi Arabia is on track to become the world’s fifth-largest military spender by 2020 as it boosts its defence budget by 27 percent over the next five years despite lower oil prices,” Simeon Kerr, Financial Times correspondent reports from Dubai. Saudi Arabia aggressively continues to increase its military spending and despite the recent heavy oil price crunch it … Continue reading
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally. Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
Goldman Sachs: Oil Prices Could Fall To $30 A Barrel
Goldman Sachs President Gary Cohn told CNBC on Wednesday he is very concerned about the short-term window for oil. He thinks crude prices could fall to $30 a barrel. One of the major reasons is the industry runs out of storage space. With the winter heating oil season ending, refineries are turning to producing more gasoline … Continue reading
Goldman Sachs Eyes $40 Oil As Weather, Violence Enter Modeling
As Goldman Sachs looks towards a future $40 per barrel price of oil, private equity funds are building dry powder for further investments. With oil in a state of backwardation – the future price is higher than the current spot price, sometimes considered a positive sign for those wanting higher prices – Goldman Sachs Group … Continue reading
Saudi Arabia: Middle East Investors Bullish On Equities As Oil Prices Appear To Be Stabilising
“Middle East funds are increasingly positive toward Saudi Arabia’s stock market as oil prices appear to be stabilising and the kingdom is preparing to open its bourse to direct foreign investment, a Reuters survey of regional asset managers shows” according to Arab News. So far this year, Saudi Arabia has outperformed all other major stock exchanges in … Continue reading
The Odds Of A War Between Israel And Iran Just Went Way Up – OpEd
Uh oh – Iran just got caught with both hands in the cookie jar. It turns out that even while Iran has been negotiating a “historic peace deal” with the western world, it has been secretly operating a huge underground nuclear enrichment site that it didn’t tell anyone about. By Michael Snyder But this is … Continue reading
OPEC Will Hold Extraordinary Meeting If Oil Plunge Continues – Cartel President
The OPEC member states are discussing the possibility of an emergency meeting should oil prices continue to fall, said Nigerian Oil Minister, and OPEC President Diezani Alison-Madueke. Prices have dropped by than half since their peak last summer. If the price “slips any further it is highly likely that I will have to call an … Continue reading
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