Saudi Arabia’s price war and the oil and Russian ruble crisis

The Russian rouble was last trading at a rate a tad better than 55 roubles to the US dollar and WTI was over $56 a barrel the last I checked. This could be the end of a mini-crisis or a lull in events. I tend to believe it is a lull and that emerging markets will continue to be vulnerable while the strong dollar and low commodity prices are in place because of the change in Saudi Arabia’s rhetoric on oil prices and productions. Some thoughts below

The Russian rouble was last trading at a rate a tad better than 55 roubles to the US dollar and WTI was over $56 a barrel the last I checked. This could be the end of a mini-crisis or a lull in events. I tend to believe it is a lull and that emerging markets will continue to be vulnerable while the strong dollar and low commodity prices are in place because of the change in Saudi Arabia’s rhetoric on oil prices and productions. Some thoughts below
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