Saudi Arabia has informed Egypt that shipments of oil products have been halted indefinitely, suggesting a deepening rift between the two nations. In response, an Egyptian delegation suggested late on Sunday evening that it would visit Iran, Saudi Arabia's main political rival, to try to strike new oil deals. Such a visit would cement a break in Egypt's alliance with Saudi Arabia and "mark a seismic shift in the regional political order."
"The group has repeatedly made bullish announcements about OPEC intervention during periods of low liquidity (e.g. US holidays), and whenever short positions become large. If prices continue to slip, the chances for bullish OPEC headlines grow, which could lift prices briefly even if there is no follow through." - Morgan Stanley
Thanks to the latest Podesta email release, we learn that Hillary agreed with Podesta who advised her not to use "this channel" in discussing confidential, intel-based information, when she simply responded to his warning with "got it."
Between risk-on sentiment from Comey's latest bombshell and the earthquake in Cushing overnight, WTI crude prices rallied to $44.99 but as OilPrice.com's Gregory Brew notes that in the midst of a week of bad to terrible news for oil prices, OPEC tried and failed to alleviate concerns that its meeting this November will, in fact, produce a meaningful deal on production cuts.
"How does Hilary Clinton fit in this broader network? She's a centralising cog. You’ve got a lot of different gears in operation from the big banks like Goldman Sachs and major elements of Wall Street, and Intelligence and people in the State Department and the Saudis."
The Clinton Foundation has confirmed it accepted a $1 million gift from Qatar while Hillary Clinton was U.S. secretary of state without informing the State Department, even though she signed an "ethics agreement" to do just that.
“My analysis is that Trump would not be permitted to win. Why do I say that? Because he has had every establishment off his side.... Banks, intelligence, arms companies, foreign money, etc. are all united behind Hillary Clinton. And the media as well. Media owners, and the journalists themselves."
"America is no longer number one and the first power of the world. America's political will can no longer manage political and military development in... the world of Islam. America's political power has strongly declined."
"If Hillary is elected, it will be by rigging the election. Our computer has never been wrong on this score. So if she takes office, this will be the worst administration in history and may very will set in motion the phase transition where capital flees to bonds and we see a significant rise in civil unrest."
Follow OPEC's blame-mongering statement earlier today -"observers should not be quick to judge or criticize" the organization - it appears mutiny is occurring within the cartel as OPEC sources report Saudi Arabia threatening to "steeply raise" output following Iran's refusal to cap output. WTI is tumbling on the news, testing towards a $43 handle.
Virtually the whole planet holds its collective breath at the prospect of Hillary Clinton possibly becoming the next President. How’s that humanly possible, as the (daily) Bonfire of The Scandals – relentlessly fed by WikiLeaks revelations and now converging FBI investigations - can now be seen from interstellar space? It’s possible because Hillary Clinton, slouching through a paroxysm of manufactured hysteria, is supported by virtually the whole US establishment, a consensual neocon/neoliberalcon War Party/Wall Street/corporate media axis. But History has a tendency to show us there’s always a straw that breaks the camel’s back.