Oil prices jumped on Monday before later surrendering gains as rising tensions between the United States and Saudi Arabia weighed on investor sentiment.
U.S President Donald Trump threatened “severe punishment” for Saudi Arabia if they were responsible for the disappearance of a Saudi Journalist. With Saudi Arabia vowing to “respond with greater action” against any US sanctions, fears immediately heightened over the kingdom cutting production. Although oil prices seem to be trading lower today amid the risk-off mood, the outlook points to further upside.
Rising geopolitical tensions in… Read More