What Jamal Khashoggi’s death could mean for oil markets | Financial Times:
The disappearance and death of Saudi journalist Jamal Khashoggi continues to produce unexpected consequences and to reshape relationships in the Middle East and beyond. Turkey has been surprisingly tough in its response, while US president Donald Trump has said that the affair will have “very serious consequences” for Saudi Arabia.
What does all this mean for the oil market?
November was already set to be a challenging month. On November 4, the US’s so-called secondary sanctions against Iran relating to the energy business will come into full effect, covering existing as well as new activity. The sanctions exclude any company that continues to do business with Iran from the US banking system — that is a problem for most major companies in the sector and makes any attempt by the EU to oppose US action irrelevant.
No comments:
Post a Comment