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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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.