Moments ago a member of the Obama administration made a stunning admission, when for the first time ever, Deputy National Security Adviser For Strategic Communications Ben Rhodes, admitted revealed on the record that the Saudis were the original source of funding for Al Qaeda: "A lot of the money, the seed money if you will, for what became Al Qaeda, came out of Saudi Arabia."
The simple answer is — and the courts have ruled — that they can and it’s legal. They claim that it is part of free speech and that the responsibility is on the public to be informed as to whether the information is true or not. Therein lies the problem. The American public has been lulled into watching the evening news and thinking they are being informed. They aren’t. They’re being manipulated.
While much of the blame for the failed Doha agreement (which impacted the price of oil for about 12 hours before another squeeze pushed both Brent and WTI back to unchanged for the day), a new allegations has emerged, this time from the Venezuela oil minister Del Pino who, after saying that he is disappointed with the Doha results (but why - oil is basically unchanged) accused none other than the US for sabotaging the Doha deal, saying that the US acted to block the Doha oil production freeze accord.
Obama Sends More Troops To Iraq; Authorizes Use Of Apache Helicopters; Gives $415 Million To Local ArmySubmitted by Tyler Durden on 04/18/2016 11:54 -0400
Back in 2014 Obama promised that as part of the US war against ISIS, there would be "no ground troops in Iraq." Moments ago U.S. Defense Secretary Ash Carter gave the latest confirmation that Obama was not being exactly "honest", when during a visit to Baghdad in which he met U.S. commanders, Iraqi Prime Minister Haider al-Abadi, and Iraqi Defence Minister Khaled al-Obeidi, he announced that the US would send another 200 additional troops, raising the number of U.S. troops in Iraq to about 4,100.
Hillary Clinton recently blasted the hidden financial dealings exposed in the Panama Papers, but she and her husband have multiple connections with people who have used the besieged law firm Mossack Fonseca to establish offshore entities.
Russia Frustrated After Doha Breakdown: "How Can Iran Be The Reason For Failure When It Wasn't Even Here?"Submitted by Tyler Durden on 04/18/2016 07:43 -0400
Russian Energy Minister Alexander Novak spoke to Russian media following the conclusion of the talks, and it was evident he was quite frustrated. Mr. Novak explained that the 11 OPEC states and seven outsiders present during the meeting had spent two months drafting an agreement that would cap oil production at January levels in an effort to stabilize oil prices, and it was all undone by the fact that Saudi Arabia, Qatar, UAE, and "predominantly other Gulf States" insisted that Iran be included in the deal (Iran did not attend the talks).
- Crude's Losses Drag Ruble, Loonie Lower; Stocks Pare Their Drop (BBG)
- Grand Oil Bargain Is Victim of Saudi Arabia's Iran Fixation (BBG)
- Both Parties’ Presidential Front-Runners Increasingly Unpopular (WSJ)
- It's up to you, New York: state takes center stage in election campaign (Reuters)
- Rousseff Hangs by a Thread After Losing Impeachment Vote (BBG)
- China March home prices rise at fastest rate in two years, top cities boom (Reuters)
Failure to proceed with crude output freeze plan seen as a "serious blow" to oil-market sentiment by Energy Aspects; Barclays expects mounting tensions between Saudi Arabia and Iran to boost volatility. Separately, Kuwait oil workers strike viewed as price-supportive. Here, courtesy of Bloomberg, is a summary of what analysts have said so far on meeting’s outcome as well as comments on Kuwait:
Following yesterday's OPEC "production freeze" meeting in Doha which ended in total failure, where in a seemingly last minute change of heart Saudi Arabia and specifically its deputy crown prince bin Salman revised the terms of the agreement demanding Iran participate in the freeze after all knowing well it won't, oil crashed and with it so did the strategy of jawboning for the past 2 months had been exposed for what it was: a desperate attempt to keep oil prices stable and "crush shorts" while global demand slowly picked up. And whether it is central banks, or chronic BTFDers, just 12 hours after oil opened for trading with a loud crash, the commodity has nearly wiped out all losses, and both brent and WTI were down barely 2%, leading to both European stocks and US equity futures virtually unchanged on the session.
“Saudi Arabia appears to be blackmailing the US, saying it would sell off American assets worth a 12-digit figure sum in dollars if Congress passes a bill allowing the Saudi Government to be held responsible for the 9/11 terrorist attacks.” To say that this threat from the Sauds is just “another sign of the escalating tensions between Saudi Arabia and the United States” seems like saying that a neighbor’s threat to bomb your house would constitute just “another sign of escalating tensions” between you and your neighbor.
Goldman On Doha: "Bearish For Prices ", Expect "High Price Volatility"; Saudi Oil Production May JumpSubmitted by Tyler Durden on 04/17/2016 19:35 -0400
"we view this outcome as bearish for oil prices given consensus expectations for a “soft guidance” freeze at January production levels"... "We therefore view risks to our Saudi forecast as skewed to the upside: it is at the guidance provided by the deputy crown prince in his latest interview with Bloomberg this week, with such volumes presented as contingent on a deal to freeze production being reached."
OPEC, NON-OPEC MINISTERS FINISH OIL TALKS IN DOHA, NO AGREEMENT - RTRS
OIL PRODUCERS END DOHA TALKS: OMAN MINISTER - BBG
DOHA OIL TALKS FINISH WITHOUT FREEZE DEAL: NIGERIAN MINISTER - BBG
OIL-PRODUCING NATIONS WILL MEET AGAIN, PROBABLY JUNE: NIGERIA - BBG
In the first market glimpse of the fallout from a disappointing Doha conclusion, Saudi stocks have fallen by the most in three weeks retracing most of last week's exuberantly hopeful gains.
"I Am Not Sure You Can Call It A Freeze" - OPEC Deal In Jeopardy As Saudi-Iran Tensions Spike: All The LatestSubmitted by Tyler Durden on 04/17/2016 10:40 -0400
A spike in tensions between arch-rivals Saudi Arabia and Iran appeared on Sunday to ruin prospects of the first binding oil output deal in 15 years between OPEC and non-OPEC nations, and looked set to prompt another fall in the price of crude. "I am not sure you can call it a freeze," one OPEC source said. A senior oil industry source said: "The problem now is to come up with something that excludes Iran, makes the Saudis happy and doesn't upset Russia."