Earlier:
- Saudi press agency: Saudi King Abdullah has died
- Oil continues to gain
Saudi King Abdullah has died – succession, stability questions
More now from the Wall Street Journal on the death of Saudi King Abdullah and what it means for stability and oil …
- Says it ushers in a period of new uncertainty in a key relationship that already was tense.
- In the short term, the death of the king actually might ease strains in the relationship. The Saudi kingdom, as it enters a period of transition, may feel more vulnerable to external threats and eager to show the world that it still has the solid of backing of the U.S.—the country the kingdom always has seen as its ultimate protector.
- But in the longer term, the transition raises questions about how the new Saudi leadership will see its relations with the region and the wider world
- The new king, the late ruler’s half-brother, Salman bin Abdul Aziz, is less well known and not considered a strong or healthy leader in his own right
- One large question American officials will be asking is whether the Saudis will continue the kingdom’s recent risky oil strategy of pumping oil at high levels even as prices are dropping, in an effort to protect market share and drive other producers off the field
More at the (gated) article: Saudi King’s Death Clouds Already Tense Relationship With U.S.
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Oil has stabilized after the move higher on the earlier news … continuation triangle higher?:
