...a kingdom taking up the bulk of the Arabian peninsula, largely made up of sand and oil rigs. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual haj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. Formerly dictatorial and steeped in Olde Tyme Religion, deferring to Salafist holy men on all issues, it has now done a 180 and is making a serious effort to modernize, so as not to be left in the sand by its Gulf Arab neighbors. The holy men have been shoved to the background and the nation is now still dictatorial but somewhat rational. That doesn't make them trustworthy, but it's a start...’s oil infrastructure.
Brent crude futures fell 93 cents, or 0.86%, to $107.82 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 97 cents, or 0.92%, to $104.86 a barrel during early trading. The decline followed a sharp rally a day earlier that pushed both benchmarks to their highest levels since May amid escalating tensions in the Middle East.
Market sentiment shifted after the American Petroleum Institute (API) reported an unexpected 7.1 million-barrel increase in U.S. crude inventories for the week ending September 11. Analysts surveyed by Rooters had expected a drawdown of about 1.6 million barrels, making the larger-than-expected stock build a bearish signal for oil prices.
The inventory data came despite continuing concerns over Saudi Arabia’s oil exports after Iran-backed Iran's Houthi sock puppets
...a Zaidi Shia insurgent group operating in Yemen. They have also been referred to as the
Believing Youth. Hussein Badreddin al-Houthi is said to be the spiritual leader of the group and most of the military leaders are his relatives. The legitimate Yemeni government has accused the them of having ties to the Iranian government. Honest they did. The group has managed to gain control over all of Saada Governorate and parts of Amran, Al Jawf and Hajjah Governorates. Its slogan is
God is Great, Death to Americaâ„¢, Death to Israel, a curse on the JewsThey like shooting off... ummm... missiles that they would have us believe they make at home in their basements. On the plus side, they did murder Ali Abdullah Saleh, which was the only way the country was ever going to be rid of him...
fighters targeted the kingdom’s East-West Pipeline and facilities linked to the Red Sea export hub at Yanbu. The attacks forced Saudi Arabia to suspend oil loadings at Yanbu and reroute some crude shipments through Oman’s Sohar port using ship-to-ship transfers.
The East-West Pipeline is one of Saudi Arabia’s most important export routes because it allows crude oil to bypass the Strait of Hormuz. Energy analysts have warned that prolonged disruptions to the pipeline could threaten up to 4% of global oil supply, although Saudi authorities have sought alternative export routes to reduce the immediate impact on international markets.
Despite Wednesday’s decline, crude prices remain significantly above levels seen before the latest escalation in the U.S.-Iran
...a theocratic Shiite state divided among the Medes, the Persians, and the (Arab) Elamites. Formerly a fairly civilized nation ruled by a Shah, it became a victim of Islamic revolution in 1979. The nation is today noted for
spontaneouslytaking over other countries' embassies, maintaining whorehouses run by clergymen, involvement in international drug trafficking, and financing sock puppet
militiasto extend the regime's influence. The word
Iranis a cognate form of
Aryan.The abbreviation
IRGCis the same idea as
Stürmabteilung (or SA).The term
Supreme Guideis a the modern version form of either
Duceor
Führeror maybe both. They hate
conflict. Traders continue to monitor the security of the Strait of Hormuz and the Red Sea shipping corridor, where regional attacks have heightened concerns over global energy supplies and maritime transport.