The reason oil is rising is because the unrest and instability in Yemen might affect life and the oil fields in Saudi Arabia and this also escalates a risk at some point of an all out war between Sunni Nations and Iran, sort of like how Iraq and Iran went at it in the 1980s. So, this destabilizes the price of oil worldwide and may continue to raise prices(and lowering prices) for awhile until something stabilizes more in all this or this destabilizes completely out of control in Yemen or Saudi Arabia. The danger is Yemen becoming another Syria. Just like Iraq until the U.S. invaded, the Sunnis mostly ran Yemen just like they ran Iraq through Saddam Hussein. However, Syria is sort of an anomaly now because it is a minority Shia Government of Assad (helped by Iran and Russia) subjagating a Sunni Majority which is why ISIS(ISIL)Daesh was able to form in the first place as a Sunni Terrorist group in Northern Syria and Iraq.
Oil Rises to 3-Week High as Saudi Arabia Bombs Targets in Yemen
| Bloomberg | - |
(Bloomberg)
-- Oil climbed to the highest in more than two weeks in London as Saudi
Arabia and its allies bombed rebel targets in Yemen, which is near the
center of global energy trade.
No comments:
Post a Comment