Forget about $100 oil and disregard the non-farm number too. Watch housing

No more oil black swan
Remember Al Arabiya channel’s General Manager Turki Aldakhil warning that imposing sanctions on, Saudi Arabia, the world’s largest oil exporter could spark global economic disaster? I wrote about it when the  Jamal Khashoggi crisis began. He was saying "no one should rule out the price [of oil] jumping to $100, or $200, or even double that figure". I think we can rule that out completely now.

In fact, $100 oil - which, three weeks ago, I wrote was a target bandied about - is looking less likely now too. I wouldn't say we can completely discount this outcome. But it is looking very unlikely at this point.

Instead, we have the WTI variant of crude trading at $63.52 and Brent trading a shade below $73. People will tell you a lot of this has to do with signs from the S...


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