Interdum stultus opportuna loquitur...

Tuesday, August 09, 2005

OilRant: A Link for the Saudi Story...

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This stry is being deliberately under-reported; I have not seen an instance of it anywhere in the m,ajor dailies, and it's been completely absent from the financial press.

But mark my words, the oil market is reacting as much to this, as it is to the supposed threat of political upheaval in Saudi Arabia.

Note also the timing of this announcement - released the day after a US delegation left the country.

The link: Saudis to retrieve $360 billion abroad.

US$360 billion translates to A$470 billion - so I was a little high in my 'back of the envelope' calculation.