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Crude Carnage Has Saudi, Gulf Shares Seeing Red On Sunday
"Do you see what happens, Larry?!"
"Do you see what happens Larry when you let US shale back into the game?!"
Following this week's dramatic collapse in crude prices which, you're reminded, erased the entirety of the post-OPEC-cut gains...
...triggering a widening in HY spreads...
...and a selloff in anything energy-related...
... we saw the follow through on Sunday as Gulf stocks plunged.
In Riyadh, the Tadawul All Share Index fell 1.2% to its lowest level since January 16. 86% o
In speaking of the U.S. oil shale guys, an Arabic official said, “May the fleas of my father’s camels nest in their beards”,