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Instability in the Middle East afraid you do not want to hear and we're talking about a shake up in the Saudi royal family.
That could lead to big changes for the country and big changes and the price of oil potentially.
The Specter of commodities research at Barclays and she is here to break it -- up first and foremost we're let's look at the price of well women today.
Critically it's -- -- 97 the day it's down about two and a half percent.
In reaction to what's going on in Greece how much of that is do you think -- 9891.
Dollars on the costs -- is -- is justified.
Here -- just a fundamental and again we're back to an assortment tight.
Supply and demand situation in Libya is still the bulk of its exports are off the market.
Demand has remained pretty strong in Asia.
So we're not the place we have a lot of access to oil the stories that are driving all right now -- -- Greece concerns about Europe.
But the fundamental situation really supports an elevated oil price at this point.
And you and we are talking about it and the break that certainly Saudi Arabia would be happy with 9091.
Dollars a barrel this for west Texas intermediate.
But how does the new crown grants and that country also play out in what they do in terms of their supplies and argue that the saudis neater and 95 and a minimum on -- to balance their budget the saudis have been spending a lot 130 billion on new domestic program.
To shore up support to prevent them from having -- type of protests in Egypt and Tunisia and Libya and that's expensive they've -- increased military spending.
What's interesting about the new crown prince says if that he's a little bit diverted from King -- potentially how he would deal with domestic discontent.
Of Dallas somebody's -- former he's really reached out to women's group.
Barack's he really wants to be popular with -- -- -- he's tried to push reforms sometimes and block.
But he is seen as somebody who's really on the side of change some like prince not yet he -- different breed he is somebody is an Interior Minister since 1975.
The religious police report to him.
He is seen as a more conservative hardliner he's also seen is closer.
The wahhabi clerics there would be interesting to see potentially would he deal with domestic discontent differently.
Particularly in relation but the Shiites in the oil producing region.
Would you be more aggressive than a dollar even in trying to push back -- -- influence in the region.
Could that -- element instability to Middle East and speaking of Iran and the attempted.
-- against the Saudi ambassador here in the United States would you make of that and the you know Revolutionary Guards foods fourth.
Essentially being accused of spotting state sponsor terrorism on American soil trying to kill the Saudi ambassador to Washington this very close to the Saudi king.
And if they carry this off it would have led to a serious deterioration.
And US Iran in relation to US Saudi relations.
The question is who really -- -- it's not necessarily seen as the type of operation.
The revolutionary -- -- carried out but I think you might see that's a much bigger reaction in the oil market right if everybody really if there was more certainty about it right it looks like it might look really -- 100000 dollars was transferred.
From revolutionary guard account -- in -- -- -- But the question has -- in the mid level guards men who approved this was at the highest levels.
Most people tend to think it wasn't the supreme leader or the head of the revolutionary guard -- signed off on.
But if it's somebody freelancing in the cards.
That also shows potential cracks with in the security leadership in Iran scary -- a great -- thank you and I -- croft is always how much did you learn a whole lot of.
Time at a time she's on now the clock ticking up super committee.
Pumps hopefully learn something from -- they're gonna come up they think with a major deficit reduction plan but we have a guests coming Yahoo! says.
-- this is -- guess -- gonna say that that committee has something they should learn from Greece.
Right -- burning question answer it after October's point gain -- record for the Dow is the rally really over FaceBook you can find us there.
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