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Title: Iran sanctions: Middle East stock crash wipes £27bn off markets as Tehran enters oil war
Source: [None]
URL Source: http://www.telegraph.co.uk/finance/ ... -as-Tehran-enters-oil-war.html
Published: Jan 17, 2016
Author: John Ficenec
Post Date: 2016-01-17 12:13:17 by Ada
Keywords: None
Views: 227
Comments: 6

Sanctions on Iran and its oil exports can now be lifted

Prospect of the Islamic Republic pumping an additional 500,000 barrels a day sends stock markets in Dubai and Saudi Arabia into tailspin

Stock markets across the Middle East saw more than £27bn wiped off their value as the lifting of economic sanctions against Iran threatened to unleash a fresh wave of oil onto global markets that are already drowning in excess supply.

All seven stock markets in the Gulf states tumbled as panic gripped traders. London shares are now braced for a second wave of crisis to hit when they open on Monday morning after contagion from China sent the FTSE 100 to its worst start in history last week.

Dubai's DFM General Index closed down 4.65pc to 2,684.9, while Saudi Arabia's Tadawul All Share Index, the largest Arab market, collapsed by 7pc intraday, before recovering to end down 5.44pc at 5,520.41, its lowest level in almost five years.

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#1. To: Ada (#0)

oil war

I fully expect oil to drop more precipitously in the near future. The U.S. has now ended its export ban and has already sent several ship loads of oil to China. Expect this trend to continue.

Have you heard of the abiotic theory of oil? Oil does not come from dead dinosaurs. It is a natural product of the Earth.

How do I know this? Simple, in Texas and Oklahoma they uncapped some of the old wells and checked them. They found out there was now oil in them when everyone had thought those wells were dry. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2016-01-17   12:19:30 ET  Reply   Trace   Private Reply  

Have you heard of the abiotic theory of oil?

Yes although at these prices doesn't make any sense to explore them. What worried me is that what will raise prices is war.

Ada  posted on  2016-01-17   15:37:32 ET  Reply   Trace   Private Reply  

What worried me is that what will raise prices is war.

There is always another war around the corner. Besides, the U.S. has been waging low grade wars against both Russia and China for quite some time. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2016-01-17   15:40:19 ET  Reply   Trace   Private Reply  

There is always another war around the corner. Besides, the U.S. has been waging low grade wars against both Russia and China for quite some time. ;)

True but I was thinking more of a Saudi/Iran war.

Ada  posted on  2016-01-17   15:44:31 ET  Reply   Trace   Private Reply  

True but I was thinking more of a Saudi/Iran war.

If that happens, it would be Shia vs Sunni again, just as in the Iran-Iraq War.

But think of this. Right now the Iranians are helping the Iraqis to rid the Levant of ISIS, along with the Russians.

You do know that the U.S. has supplied the Saudis with all of their armaments. And lately the Saudis have been attacking Yemen trying to rid them of Houthi rebels. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2016-01-17   16:42:49 ET  Reply   Trace   Private Reply  

The Saudis have the equipment but going against Iran would be a disaster. It would, however, raise the price of oil.

Ada  posted on  2016-01-17   17:11:11 ET  Reply   Trace   Private Reply  

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