Tag: Oil Prices

Oil Extends Slump Past 13-Month Low on Mounting Pandemic Fears

Tina Marie (Ms. Cat)

Oil extended losses after closing at a 13-month low as more new coronavirus cases were reported outside China than within, adding to fears the world is on the brink of a pandemic that will take a hefty toll on economic growth.
— Read on www.msn.com/en-us/finance/markets/oil-extends-slump-past-13-month-low-on-mounting-pandemic-fears/ar-BB10rN5l

Oh shite! The US needs to start another war to bring these prices back up! *sarcasm*

Saudi Arabia call ‘Emergency Meeting’ for the Organization of Islamic Cooperation Foreign Ministers”

Tina Marie (Ms. Cat)

NEWS | Sep 10, 22:47 GMT | By Ross J Burland

Saudi Arabia called an ‘Emergency Meeting’ for the Organization of Islamic Cooperation Foreign Ministers.
The United States is “very concerned” about China’s purchases of Iranian oil.
Following the comments made by Israeli Prime Minister Benjamin Netanyahu on Monday, where he said that Iran has a secret nuclear facility and called for action against the Middle Eastern nation, Saudi Arabia called an ‘Emergency Meeting’ for the Organization of Islamic Cooperation Foreign Ministers to discuss Netanyahu’s Move.

Market implications

This follows the new Saudi energy minister, Prince Abdulaziz bin Salman, confirming expectations that he would stick with his country’s policy of limiting crude output to support prices. However, the United States is “very concerned” about China’s purchases of Iranian oil, and there is a keen focus on such developments with respect to the price of a barrel of oil. 

— Read on www.fxstreet.com/news/saudi-arabia-call-emergency-meeting-for-the-organization-of-islamic-cooperation-foreign-ministers-201909102247