Mideast Turmoil: Follow The Oil, Follow The Money

@zerohedge -

@zerohedge—Authored by Charles Hugh Smith via OfTwoMinds blog, In this scenario, time is running out for Saudi Arabia's free-spending royalty and state - and for all the other free-spending oil exporters. While there are numerous dynamics at work in the turmoil roiling Saudi Arabia and by extension, the Mideast, one way to cut to the chase is to follow the oil, follow the money. Correspondent B.D. recently posited a factor that has been largely overlooked in the geopolitical / fate-of-the-petrodollar...

Oil Jumps To $56, Highest Since July 2015 Following Saudi Turmoil. With the launch of electronic trading, WTI crude has jumped from the highest close since July 2015 amid Saudi turmoil which over the weekend included a crackdown on 11 Saudi princes - including billionaire Alwaleed - and dozens of current and former ministers as Saudi Crown Prince Mohammed bin Salman, i.e. MbS, who’s backed policy of capping oil output to raise prices, consolidates power with anti-graft probe, and shortly after a helicopter that carried 8 high-ranking Saudi officials...