Essam Al-Sudani/Reuters
- Oil prices seemed to have found a floor, and are poised to come back.
- The Asia-Pacific region looks especially attractive.
Geopolitical risk bearing down on global oil markets is increasingly taking hold and weighing on oil prices as Saudi Arabia and Iran jockey for influence and position in the Middle East. These concerns escalated just over a week ago when Saudi Arabia’s young Prince Mohammed bin Salman ramped up tough rhetoric over Iran, pledging to acquire nuclear weapons if indeed Iran develops them.
His muscular geopolitical approach in the Middle East and recent talks in Washington with President Trump, pledging to buy more U.S. military hardware, shows that Saudi foreign policy under his helm will be more aggressive, albeit with even more military punch – all factors that spook oil markets and tend to drive prices upward.See the rest of the story at Business Insider
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