Tension high in Mideast. Threats from Iran. U.S. forces on alert. Its reason Oil Prices up, not OPEC meeting. U.S. intercepts Iran Ballistic Missile Shipment to Yemen.

[Jabbar + 465]

Iranian threats are reason for jump in oil price.  U.S. keeping the threat quiet  . . . .  but ready to UNLOAD on IRAN if threat materializes .  

U.S. intelligence is hearing about threats.  U.S. has interrupted and confiscated an Iranian shipment of BALLISTIC MISSILES on the way to Yemen.  

Thought is maybe Iran will try strike against Saudis to disrupt Aramco IPO.  

Trump alluded to it today after meeting with U.N. leaders.  Trump dodged questions when asked directly about Iran threats and U.S. possible response. 

As for OPEC meeting:

(1) OPEC will increase cuts for "crude"  . . . . but take condensate out of cuts .  So basically no change.  Oil probably trades up but no real change. 

(2) OPEC trying to enforce old cuts.  Saudis threatened Iraq with stopping planned investment in Iraq if doesn't comply. Source said don't be surprised if Iraq leaves OPEC by June next year. They are said to be at the end of their rope re Saudi producing 10.3 million/day while they are being restrained around 4 million.  They will go along for now but they won't much longer. 

 

 

Edited December 5, 2019 by Jabbar