Abadan refinery hit in a long tit for tat between KSA and Iran

[jose chalhoub + 388]

Now was the turn for Abadan refinery to be hit by what was alleged was a cyber attack... after recently ARAMCO was hit in what has become a dangerous tit for tat between Riyadh and Tehran in their quest for power in the arab islamic world and the Middle East but apparently without exerting much influence and impact on global oil prices, but for how long prices could remain untouched or little impacted if this instability continues and the rage between Riyadh and Tehran keeps on and with so many unstable spots in the region continue now with protests in Iraq, Lebanon, Libya and its eternal instability and militia warring factions and the issue of Turkey in Northeastern Syria.

The oil market could well be now well supplied and the prospects for demand as recession outlook continues to grow and unfold but if these global turbulent spots continue and eventually hitting the production of significant producers such as that of ARAMCO or after Ecuador production was importantly shut after violent protests erupted in the country, then we might see geopolitical risks factoring in the direction of oil prices. 

[El Nikko + 2,145]

I read about this yesterday, at the time the Iranian media claimed it was just a fire which borke out in a canaal carrying crude waste. Also we've still not got to the bottom of the so called tanker attack.

Maybe in another month or two we might see a drop in US production and possibly some further OPEC cuts...I feel like going in to hibernation and checking back in December.

I agree geoplitical risks don't seem to be factored in to prices at the moment, it seems crazy.