Oil Tumbles After Saudis Slash Prices To Europe
by Tyler Durden
ZeroHedge.com
01/05/2016
“The Saudis are preparing for Iran’s return,“ said Mohamed Sadegh Memarian, who recently retired as the head of petroleum market analysis at Iran’s oil ministry, as they sharply cut the prices they charge for crude oil in Europe (to the biggest discount since Feb 2009). The move that will likely undercut Iran happens as sectarian tensions escalate between the rival Middle Eastern nations.
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