excerpt/ July 2, 2015
Saudi Arabia Just Delivered Another Strike in the "Oil War"
reports emerged that a draft deal on Iran's nuclear program would be reviewed by the Western negotiators. Crude oil prices plummeted - West Texas Intermediate (WTI) closed down 4.2%, at $56.96 a barrel, the lowest since April 22.
The concern spurring the decline is that an agreement would lift the Western sanctions and allow Iranian oil to flood into the market, propelling prices down.
But there's only one problem.
There was no genuine truth to the rumor, as confirmed by actual negotiation participants last evening.
somebody who falls into line with each conspiracy theory on market machinations that comes down the pike. But this sequence of events was tailor-made for one.
So let's set the record straight on the negotiations.
Greek Debt Settlement Will Affect the Energy Sector
rising indications that the Greek government and its creditors are going to avert a full-blown financial meltdown. Here's how that deal will affect energy prices...
a closed-door meeting here in Paris that reinforced my forecast for oil... and, in fact, prices might rise even higher...
