Oil prices rose for a second day on Wednesday, trading at six-week highs, after preliminary data showed a surprise decline in U.S. crude inventories and as concern persisted over possible disruption to Middle East supply.
Unexpectedly large inventory declines in the United States helped underpin the market, even though refinery maintenance reached a peak this month. But with the hardening stance of the United States towards Iran, most investors were reluctant to sell oil aggressively. […]
https://www.cnbc.com/2018/03/20/oil-markets-focus-on-middle-east-tensions-healthy-demand.html
RittaFarr
The quote below from the article says a lot about how MBS and the US will align against Iran. Not saying there’s a right or wrong answer here, but the trip to the US was for a reason.
“You still have geopolitical considerations and possible U.S. action on Iranian sanctions … that is going to be relatively prompt, in May,” Petromatrix strategist Olivier Jakob said.
Mike Black
You are right with Saudi and Israel pushing Trump to take action against Iran for no reason, America could find themselves in another war. Only this time they will not have Europeans as allies.
Tolga Kagan Onder
Germany is the leading anti-US league.
Prem Upadhyay
I do not believe that US stock pile is low. It is political strategy for conserving the oil stock for any eventuality.