Oil Spikes On Mid-East War Fears As Saudi Arabia Orders Citizen Evacuation

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Brent Crude oil has spiked to all-time highs in EUR terms as Saudi Arabia signals Syria war and Israel signals an Iran strike.

News headline tickers are filling up with headlines about and Israeli strike on Iran as Saudi Arabia signals war in Syria by ordering its citizens to leave Lebanon immediately.

The news has sent oil prices skyrocketing, especially Brent Crude which is now hovering near all-time highs in terms of Euros.

Here’s the synopsis from Zero Hedge:

Paint is drying, so what is the best way to break the monotony? Why with renewed Iran war speculation of course. Sure enough, here comes Saudi Arabia to the rescue. From Reuters: “Saudi Arabia has ordered its citizens to leave Lebanon “immediately”, the state news agency reported in an SMS alert on Wednesday. “The Saudi Arabian embassy in Lebanon calls all Saudi citizens to leave Lebanon immediately,” the alert said, without elaborating.” Making an imminent Iran attack far less likely, however, is an article in Bloomberg titled “Israel Plans Iran Strike; Citizens Say Government Serious.” Of course anyone expecting Israel to launch a strike with every paper in the world blasting the above title as a headline may as well buy some Las Vegas 10,000 square foot haciendas because housing has “bottomed.” For now however Brent is leaning on the side of caution, and is back to all time highs in EUR terms.

Brent in EUR and WTI (USD) are spiking intraday…

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Source:Zero Hedge

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and Brent In Euros is now above the 2008 highs and nearing record highs…

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Categories: MIDDLE EAST

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