Categories: Fundamental Analysis

Oil price rises after the death of Saudi Arabia’s king

Saudi Arabia – Price of oil jumped after the announcement that King Abdullah bin Abdulaziz died. There were speculations about a possible shift in the kingdom’s policy of allowing crude prices to fall. However the successor of the king announced that there won’t be any changes.

King Abdullah bin Abdulaziz past away this Thursday, 22nd of January according to the official statement. The king who had ruled since 2005, had been suffering from a lung infection. There are rumors that Salmon, who inherited the throne is not in good health condition. Many believe the new king suffers dementia or Parkinson’s disease.

Image Source: Hassan Ammar/AFP/Getty Images

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.