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Trump Wakes Up, Says ‘Maybe’ Saudi Arabia Will Upend Oil Market With 2 Million Barrel Production Increase

""Good morning, this is your President, coming to live on Twitter from my bedroom, and I'd like to share some highly confidential, highly sensitive geopolitical news with you"...

"Good morning, this is your President, coming to you live on Twitter from my bedroom, and I'd like to share some highly confidential, highly sensitive geopolitical news with you that has the potential to dramatically move the market for the most financialized commodity on the planet."  As you're probably aware, Donald Trump is battling himself for control of the oil market these days. I'm just going to pull some quotes from one of my daily columns for Dealbreaker to recount this merry-go-round for anyone who might need a refresher. From a purely market perspective, the decision to pull out of the Iran nuclear deal posed something of a quandary for the President to the extent it meant traders were likely to embed more geopolitical premium in crude prices, which were already rising. The higher oil went, the more likely it became that rising prices at the pump would end up eating away at the gains that accrue to U.S. consumers from the tax cuts. Clearly, consumers are indeed worried (the following visual is from the latest edition of BofAML's "Word From Main Street" series): Those concerns “informed” (and I use the scare quotes there because using the term “informed
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3 comments on “Trump Wakes Up, Says ‘Maybe’ Saudi Arabia Will Upend Oil Market With 2 Million Barrel Production Increase

  1. mark says:

    This seems to be a passive aggressive way to provoke Iran into taking an offensive stand for itself by basically taking away their millstone and giving it to another country. Iran and Saudi governments are not the best of friends.

  2. formerly says:

    I cannot believe that anyone would tweet information like this (and it’s been repetitively done relative to several different financial markets) without the intention of exploiting the market(s).

    The Amazon / US post office scenario was a classic and it worked. Not so sure about this one.

    “The other thing about that tweet is that it has clear market implications. Smart people can debate how consequential that number actually is, but what’s not debatable is the idea that Donald Trump is tweeting out sensitive information with the potential to move markets. I cannot imagine that Riyadh knew he was going to tweet that this morning although if they didn’t expect it, they should have learned better by now”

  3. Murphy says:

    This is the sentence that really made me laugh; thanks H:
    Those concerns “informed” (and I use the scare quotes there because using the term “informed” in the same sentence as the word “Trump” is almost always a paradox)

    And about his stupid tweet: I do not believe one word that comes out of his ignorant mouth. Lying for him is like breathing. He most likely did not speak with the King (hahaha) and for God’s sake, could he at least pretend he attended school? “prices to high” – fucking idiot.

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