What Saudi King Abdullah’s death could mean for oil prices

Source: msn.com

Saudi Arabia is the world’s second-largest producer of crude oil. So the news that the country’s King Abdullah has died certainly has the potential to shake up global oil markets.

Already, there are signs of (small) jitters: Shortly after Abdullah’s death was announced on state television, the price of West Texas Intermediate crude traded in the United States jumped roughly 2 percent, to $47 per barrel.

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Categories: Americas

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