Total chaos reigns as equity market “participants” flip from manic-sellers (IMF un-growth and Italian sbank bailout failure) to panic-buyers after the following headline hits Bloomberg:
- SAUDI ARABIA, RUSSIA REACH CONSENSUS ON OIL FREEZE: INTERFAX
- *INTERFAX SAYS SAUDIS TO DECIDE ON OIL FREEZE REGARDLESS OF IRAN
- *INTERFAX CITES UNIDENTIFIED PERSON ON RUSSIA, SAUDI CONSENSUS
The nitial surge reaction…
Just a day after Algeria said Russia would not agree.
And the funniest thing about all of this farce is that if this headline proves true it is merely the original agreement – in principal – but with both Saudi Arabia and Russia now producing at new record highs.
The post Crude, Stocks Soar On Russia-Saudi “Production Freeze” Headline appeared first on crude-oil.top.