The situation, therefore, still remains serious, with the next few weeks proving pivotal. We still think, however, that an eventual compromise will be reached, as both sides will be hard pressed to carry through with their threats.
More Quotes from Edward Meir:
The Nigerian news would typically not get much of a market hearing given the modest amounts usually involved and the relatively short-lived nature of disruptions. However, given the potential crisis with Iran, markets are moving higher on just about any news that entails a possible supply pinch.Edward Meir
No doubt, the relative easing in geopolitical tensions weighed on the markets yesterday. The Saudi incident, which was somewhat over-exaggerated on Friday, got discounted in calmer fashion for what it was -- a non-event in terms of supply, although a brie
Edward Meir
Support levels on crude...should hold at least through today, as participants will be reluctant to go home short heading into the weekend.
Edward Meir
This could, in effect, torpedo Russian and Chinese attempts to bring the Iranians around, and escalate the crisis once again.
Edward Meir
New money may not enter the markets with the same vigor as has been the case in the past, especially if growth in the U.S. shows signs of slowing on the back of steadily rising interest rates.
Edward Meir
The prolonged drama probably explains why markets have not done much of anything in response to the news. Participants have perhaps concluded that things will take a lot longer to come to a head -- if they do at all.
Edward Meir
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