Yesterday's oil news centered on the Sauds walking out of talks regarding price and production of oil. Today's news reports the price of oil rose as supply is now controlled. Next paragraph: oil workers in Kuwait have gone on strike; hence the crimp on supply. So, for me, the question of the day is who encouraged the oil workers to strike now, not while the talks were ongoing; not in the time leading up to the talks, but now, after the talks failed.
Guess it goes to show there is more than one way to get what you want, even if you can't negotiate.
Second question of the day: this worked for the price of oil, what' next? Banks, maybe?
Goldman Sachs experienced a 12% tremor. JP Morgan Chase and Morgan Stanley. Warning shots, perhaps, of something higher on the Richter Scale to come? What do you want to bet the answer is in who called the Kuwaiti strike?
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