Oil prices have rollercoaster ride as Saudi Arabia cuts ties with Iran - FT.com:
"Oil prices swung violently on the first trading day of 2016 as traders weighed weak economic data from China and worsening relations between Saudi Arabia and Iran, the biggest rivals in the Opec cartel.
A rollercoaster session began with higher prices after Riyadh cut diplomatic ties with Iran in response to protests in Tehran targeting the Saudi embassy over the execution of a prominent Shia cleric.
But they moved lower after Chinese shares plunged in response to news that China’s manufacturing sector shrank for a fifth consecutive month in December."
'via Blog this'
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