November 01, 2019
LOWLY OIL PRICE — The price of a barrel of OPEC spiked dramatically in the two days after someone attacked Saudi oil installations in September. But the price then pummeted to a level even lower than before the attack, an odd outcome. The price has risen sligthly since then, but is a mere $2 above what it was before the attack. Considering that Iran is almost certainly launched the attack with one goal being to drive up the price of crude, it has failed horribly. The one clear result of the attack so far is that the Europeans now trust the Islamic Republic even less than before.