Crude Oil Weakness Will Create Risk Off Scenarios in Stocks and Yen

[kreslik.news]

The meeting in Doha, Qatar between the world’s largest crude oil exporters ended without an agreement on Sunday, as OPEC and Non-OPEC leaders failed to make a deal to freeze output and boost sagging crude oil prices. Qatar’s oil minister told reporters that the group “needs more time” to construct the outlines of a deal to freeze output, but cited “improved fundamentals” as a reason why an immediate agreement wasn’t necessary.

Some feel the real reason a deal wasn’t struck was because of the strained relationship between Saudi Arabia and Iran, and their inability to find common ground to hold the ... (read more)