Bombing Raises Oil Price

Saudi bombs Yemen raises oil price to almost $60/bbl. Is war the solution to oil price stability?

It is perceived that the Shiite Houthis have received some support from Iran, Saudi Arabia's long-time rival for Middle Eastern dominance. All the GCC countries except one, have expressed military support to Yemen. Is this a way to protect their interest? Yemen coastline plays a critical role in GCC oil exports to Europe.

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About the Author

Ver Pangonilo
A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).
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