Mideast

Earlier in the week, David Rosenberg wrote that he is bullish on energy stocks due to the exogenous shock that tensions in the Middle East are creating in the energy complex. However, this is not a bullish story for overall U.S. growth or…

The upshot of all this is that oil prices will probably remain high and could very well rise significantly even from current levels. For the U.S., studies indicate that every $1 rise in the price of a barrel of oil is about equivalent to a…

By Marc Chandler The time tested way to dampen popular unrest is to provide food and entertainment to the masses. The problem of course is that sometimes the funds are lacking. In Kuwait and Saudi Arabia, for example, this is not the case…

We note that uncertainty regarding potential oil supply disruptions is in a sense higher now than it was during the first and second Gulf Wars. Then, it was pretty much a foregone conclusion that Saddam would be defeated and oil facilities…

The US dollar is broadly stronger this morning as geopolitical tensions in Libya and the Middle East prompt demand for safe haven securities. Indeed, the dollar, yen and Swiss franc are all higher as the reboot of risk-off has driven a…

By Win Thin The Libyan situation continues to deteriorate, with the expected impact on oil (up) and EM (down) being seen today. Libyan leader Qaddafi is hanging on to power despite reported defections by diplomats and soldiers, while his…

from the Brown Brothers Harriman Currency Strategy Team Highlights The dollar is largely confined to narrow trading ranges, with sterling one of the day’s top performers following BoE’s Sentance comments that the inflation report…

By Win Thin The situation remains unsettled in Egypt.  As of this writing, President Mubarak pledged to stay on until his term ends in September, but delegated some authority to VP Suleiman.  Because of his strong connections to…

One serious addendum I made to my 2011 outlook had to do with oil and commodity prices. While I am cautiously optimistic, there are a number of potential pitfalls to a rosy scenario. Here's what I said about oil and commodities:…

by Win Thin Saudi Oil Minister Al-Naimi said that crude oil prices between $70-80 per barrel are “appropriate.”  OPEC Secretary-General el-Badri said his group would add oil output in the event of any supply disruptions, pledging…