How do I know?? Well,
King Abdullah of Saudi Arabia dead at 90, half-brother to succeed him.
King Abdullah of Saudi Arabia, the powerful U.S. ally who joined
Washington's fight against Al Qaeda and sought to modernize the
ultraconservative Muslim kingdom has died at 90, according to Saudi
state TV.
His successor is his 79-year-old half-brother, Prince Salman, who recently has taken on the ailing Abdullah's responsibilities.
The announcement came in statement read by a presenter on Saudi state
TV, which aired video of worshippers at the Kaaba in Mecca. Saudi state TV said he died after midnight Friday.
Foxnews.com Link to story
With the King's passing and the Yemeni Government has collapsed, I feel the Future's Markets are going to sky rocket the price of oil. Even without the country's raising the price themselves the speculators will.
If I had the room and money I would buy and fill as many gas cans as possible. Hang on folks this could get ugly.
Stay Safe....
Edited to add....@7:11 pm....
Following the news of King Abdullah’s death today, crude oil spiked 2.5 percent.
Oil prices have fallen by half in the past year, dropping 3 percent
earlier today before the death of the 90-year-old leader of Saudi Arabia
was announced. ABC News
Updated 8:45am 1/23/2015 The price of gas has gone up .06 cents a gallon overnight here in Cokato. Its now $1.95 up from $1.89. Still don't think the Mideast crises won't effect the price of gas and oil??
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7 comments:
Oil will spike one way or another. Volatility is part of the peak oil game.
Oh I know that. But this will give them a chance to bid up the price.
I still don't understand the motive for flooding the market with oil to get the price down like it is. Maybe it was solely the Kings idea and now with him gone his half brother may have different ideas and shut off the supply until it's $100+ a barrel.
Mike I don't think the King was flooding the market as much as it was the U.S. pumping more oil of our own, in spite of Russia's issues. They too pump oil. IIRC North Dakota is/was pumping 1 million barrels a day.
I wonder if Barack will go to the funeral? Ya know, of the man he bowed down to?????
I think the King was laid to rest already, that gets him off the hook. lol
WTI crude was down $1.47 a barrel today.
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