Wednesday, February 23, 2011

The Saudis are getting restless

Thanks to Zero Hedge for this tip:  Saudis ramping up for a protest against the monarchy on March 20 2011.

And where better to get the word out than Facebook?  Riyadh expected to shut down access shortly.

Meanwhile, 50% Libya's oil production is offline.  Italy gets 425k barrels A DAY.  Italy is hosed.  And Libya exports the sweet crude - not the heavy sour that gets shipped out of the Middle East.

Brent hit $111.
WTI hit $100.
The moves in the last two trading days undid just about every penny of QE1 and QE2.  Bernanke, your plane is leaving.

America, meet your Arab Unrest moment.

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