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Crude: Iran-Saudi tensions pose little risk to oil production

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Crude has had a volatile session in this first trading day of 2016. Both oil contracts started on the front foot before turning lower in the second half of the day, as traders responded to the headlines concerning Iran and Saudi Arabia. The latest news according to the BBC is that a number of Saudi’s allies including Bahrain and Sudan have joined diplomatic action against Tehran. This comes after Saudi’s embassy was attacked in Tehran in response to the execution of Shia Muslim cleric Sheikh

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