http://www.illuminatisilver.comhttp://www.facebook.com/illuminatisilverMarkets sent Crashing by Secret Russia and Saudi Arabia Oil Deal
Today is Tuesday 16th February 2016 and we are providing a very brief update on an interesting article published by Lana Clements in the Express Newspaper online today under the heading “Markets sent CRASHING by secret Russia and Saudi Arabia oil deal”
This is what she printed:
“A SECRET meeting between the world's biggest oil exporters, including Russia and Saudi Arabia, has led to an agreement to freeze output at almost record high levels, sending prices and markets crashing once again today. Investors had hoped oil producers could agree to a cut in production to help ease the huge oversupply glut that has pushed prices down to their lowest levels in a decade in recent weeks. Instead a tentative hold was put in place, which ministers said was dependent on other producers joining in.
It's thought the deal could therefore be undermined by Iran's absence from the agreement and recent indications that it will raise production.
Oil prices fell below $34 as hope for an immediate deal faded, sparking an end to the recent rally seen on the FTSE 100 and other global markets.
The Saudi Minister, Ali al-Naimi, said: "The reason we agreed to a potential freeze of production is simple: it is the beginning of a process which we will assess in the next few months and decide if we need other steps to stabilise and improve the market….."We don't want significant gyrations in prices, we don't want reduction in supply, we want to meet demand, we want a stable oil price. We have to take a step at a time."
This proves positive for gold and by correlation Silver as stock markets fall as a result. However at the time of this video markets are still in positive territory for the day.
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