| If friction between Saudi Arabia and Iran persists, in addition to attacks on targets such as embassies, look for oil’s first move of the new year to be a spike. A furor has erupted in both countries, and across the region, in the aftermath of Saudi Arabia’s execution Jan. 2 of Nimr al-Nimr, an influential Shia cleric who had denounced discrimination against Saudi’s Shia minority.
An Iranian mob ransacked the Saudi Embassy in Tehran, and Ayatollah Ali Khamenei forecast that God would smite Saudi Arabia. Angry rhetoric and demonstrations across the region probably won’t move oil prices: oil traders would likely take these, more or less, in their stride...............................................Full Article: Source
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