Monday, May 18, 2015

Oil Prices Rise After Ramadi

Oil prices rose on Monday after the Islamic State captured Ramadi, raising fears of deeper turmoil in the oil-producing country. Brent for July delivery was trading at around $67 a barrel this morning.

1 comment:

Anonymous said...

I wonder if there is an intended correlation between Iran forcing Saudi Arabias hand to go to war in Yemen in order to push Saudi Arabias deeper into deficit. According to this article from the bbc written in January, the war hadn't begun yet. Now Saudi Arabia is spending much more on the war campaign and other projects. I wonder how much faster they are burning through there reserves now.