Kuwait

Equity Futures Rise After Oil Rebounds From 12 Year Lows; US Markets Closed

With the US closed today for Martin Luther King Holiday, global risk tone has once again been set entirely by oil, which opened sharply lower at fresh 12 year lows on fears of an Iran oil glut, but has steadily rebounded on the latest OPEC comments, and at last check both WTI and Brent were unchanged trading in the low $29's on muted volume. With Asian markets mixed, European shares swung between gains and losses, while the yen weakened as China stepped up efforts to curb foreign speculation against its currency. Crude oil rose from a 12-year low after the Organization of Petroleum Exporting Countries forecast a decline in supplies from rival producers.

Caught With Our Pants Down In The Gulf

Anyone who thinks the adversarial relationship between Washington and Tehran has turned into “détente” due to the nuclear deal is living in Never-Never Land. Your bullshit-ometer should be making an awful racket in response to the shifting explanations given for the twenty-four-hour Iranian hostage scare involving two US Navy boats intercepted in the Gulf. The signing of the Iran deal means that we are in for a long series of provocations in the Gulf, and this is only the beginning. In order to keep all this in perspective, just remember that the long dance between Washington and Tehran involves at least four partners, including their hard-liners and ours.

Mid-East Massacre: Qatar Crashes, Saudi Stocks Plunge Most Since Black Monday

Broad middle-east and african stock markets crashed over 5%, erasing any gains back to November 2008 as the carnage from last week continues. From Kuwait (-4.3%) to Qatar (-8%) it was a bloodbath as Saudi Arabia Tadawul Index plunged 5.4% - the most since Black Monday (now down over 50% from their 2014 highs). These losses are far in excess of US 'catch-up' moves and suggest a dark cloud over Asia this evening.

Ron Paul Warns: "Watch The Petrodollar"

"The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better."

War Between Saudi Arabia And Iran Could Send Oil Prices To $250

The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries. The effect from the brewing conflict on oil is murky, but for now it is not having a bullish impact. But what if the current “Cold War” between Saudi Arabia and Iran turned hot?

Mid-East Massacre: Equity Markets Plunge From Bahrain To Kuwait

With all eyes focused on tonight's China open (and the "oops, China matters after all" meme), the Middle-East has fallen off the front (or back) pages of mainstream media. However, the last few days have been a bloodbath (analogistically as opposed to literally) across the Middle-East with Saudi stocks plunging 2.5% overnight (down almost 13% in the last 5 days) and every market from Bahrain to UAE all tumbling below August lows.

Islamic Radicalism: A Consequence Of Petro-Imperialism

The mainspring of Islamic extremism and militancy isn’t the moderate and democratic political Islam, because why would people turn to violence when they can exercise their right to choose their rulers? The mainspring of Islamic militancy is the despotic and militant political Islam of the Gulf variety. The Western powers are fully aware of this fact, then why do they choose to support the same forces that have nurtured jihadism and terroris?

Enough Already! It's Time To Send The Despicable House Of Saud To The Dustbin Of History

For more than four decades Washington’s middle eastern policy has been dead wrong and increasingly counter-productive and destructive. Washington’s Mideast policy is predicated on the assumption that the answer to high oil prices and energy security is deployment of the Fifth Fleet to the Persian Gulf. And that an associated alliance with one of the most corrupt, despotic, avaricious and benighted tyrannies in the modern world is the lynch pin to regional stability and US national security. Nothing could be further from the truth. The House of Saud is a scourge on mankind that would have been eliminated decades ago, save for Imperial Washington’s deplorable coddling and massive transfer of arms and political support.

As Mideast Tensions Soared, Traders Bet On Another Plunge In Oil Prices: Here's Why

That wasn't supposed to happen. In the not so distant past, a dramatic escalation in tensions between OPEC nations (in this case Iran and Saudi Arabia) would have led to a spike in crude oil prices. However, as futures opened Sunday night, the brief rally in oil prices was met with selling pressure and instead of buying calls, traders loaded up on $30 puts. The oil market's different this time - here's why...

This Just Became The Most Important Map In Geopolitics

Because the sectarian divide is set to become the key geopolitical issue in the weeks and months ahead, we thought it an opportune time to present the following map from Goldman which does a nice job of delineating the Sunni-Shiite split in the Mid-East.

Now Comes The Great Unwind - How Evaporating Commodity Wealth Will Slam The Casino

The unfolding correction of the visible excesses of the credit inflation - such as overinvestment and malinvestment - will destroy incomes and profits; the Great Unwind of the less visible effects, such as the sovereign wealth fund liquidations, are a giant pin aimed squarely at the monumental worldwide bubbles in stock, bonds and real estate.