Wednesday, December 20, 2017

OIL: The price of a barrel remains above $ 57 following the missile firing on the Saudi capital :

The price of a barrel is rising today, galvanized by missile firing from Yemen to the capital of Saudi Arabia.

The spokesman of the Saudi-led military coalition in Yemen said the missile had been intercepted. They finally managed to understand how their state-of-the-art radar and military equipment works ...

What is important to remember is that the war in Yemen is a proxy war between Saudi Arabia and Iran. Tensions in the region are still heavy and any confrontation between the two Gulf powers could threaten the Strait of Hormuz and raise the price of the barrel very high.

This is perhaps why the United States continues to produce shale oil despite the fact that prices are so low. They fear that in the event of an armed confrontation with Iran, the tankers will not be able to stock up in Saudi Arabia anymore ...

Iran supports the Houtis but denies providing them with weapons. According to Tehran, Washington's claims constitute "an unfounded, irresponsible, provocative and destructive accusation". But let's bet that nobody is white in this story ...

Geopolitics remains the main driver of oil, never forget it.
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