Prince Alwaleed bin Talal al Saud

IAEA Gets Nowhere With Iran Nuclear Talks

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While Iran’s willingness to reopen talks with the International Atomic Energy Agency about their nuclear program was a surprise, it seems that the motion was mostly for show.    Several rounds of discussions yielded no access to a military site in Parchin which is suspected to be a weapons development facility.  There has been no agreement on further discussing the matter.  Light crude is hovering close to $106 a barrel today, so much for  Prince Alwaleed’s promise to keep oil under the $100 a barrel mark. From FT: “The International Atomic Energy Agency has reported that it held a “disappointing” … Read more

Saudi Arabia Will Not Let Oil Go Above $100

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According to Saudi Prince Alwaleed bin Talal al Saud, the billionaire head of Kingdom Holding Co., Saudi Arabia is poised to limit the appreciation of oil to no greater than $100 a barrel. “We can use our leverage, our excess capacity to be sure to pump more [oil] if needed so it will not impact the consumer countries while they’re getting out of their recessions slowly but surely,” the prince said. As for Iran, he said it is important for the U.S. and other nations to put sanctions on the “renegade country” to force its government to negotiate. Issuing an … Read more