iran’s-53-billion-oil-barrel-dig-may-spoil-sworn-foe-saudis’-aramco-ipo

The 53 billion barrels of crude oil reserves that Iran has revealed would comprise about 3% of the current proven reserves in the world. More oil in the world means lower prices. Saudi Aramco’s profits have been falling with declining prices. Saudi Arabia’s oil giant Saudi Aramco may be the world’s most profitable company but…

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uber-founder-cut-$400-million-deal-with-saudi-arabia-3-months-after-khashoggi-chopping

Uber co-founder’s newest startup received $400 million from Saudia Arabia’s PIF 11 months ago. PIF’s investment in Uber is over $1 billion in the red since the IPO. The report comes just over a year since the brutal murder of Jamal Khashoggi. Despite Uber’s poor showing, Saudi Arabia’s appetite for investing in U.S. startups shows…

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saudi-arabia-joins-softbank-in-biggest-loser-club-with-$1.1-billion-uber-loss

Uber Technologies’ (NYSE:UBER) fifth largest shareholder, the sovereign wealth fund of Saudi Arabia, has now lost over a billion dollars by investing in the ride hailing firm. Based on the most recent holdings report to the SEC, the Kingdom of Saudi Arabia’s Public Investment Fund currently owns 72,840,541 shares in Uber Technologies. PIF made the…

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gold-price-notches-fresh-gains-as-us.-imposes-harsher-sanctions-on-iran

The price of gold rose along with the dollar on Friday after the Trump administration announced harsher sanctions on Iran over its alleged role in the attacks on Saudi oil facilities last weekend. Gold Price Holds Above $1,500 Precious metals were higher across the board on Friday, as investors reacted to the latest geopolitical developments…

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resilient-dow-clings-to-27,000-despite-trump’s-‘locked-&-loaded’-threat

The Dow took losses on Monday, but the stock market bellwether demonstrated its resilience in the face of Trump’s “locked and loaded” threat. | Source: Nicholas Kamm/Ho/AFP The Dow might not extend its eight-session winning streak into the new week, but the stock market bellwether is proving its resilience following a historic disruption to the…

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‘locked-and-loaded’:-trump’s-latest-tweetstorm-rages-over-saudi-oil-attack

Donald Trump says U.S. is locked and loaded to confront perpetrators of Saudi oil attack. | Source: AP Photo/Patrick Semansky Oil prices have been soaring Monday after a drone attack at Saudi Aramco’s Khurais oil field in Buqyaq, Saudi Arabia, forced the Kingdom to shut down over half of its daily production capacity. Yemen’s Houthi…

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3-oil-stocks-strike-as-biggest-pre-market-gainers-as-trump-drills-pipeline-approvals

Upstream oil stocks are pumping hard.| Source: Snapinadil/Shutterstock The warning by President Donald Trump that the U.S. is “locked and loaded” ready to attack Iran over suspicion that it was behind the drone attacks on refineries in Saudi Arabia not only sent crude oil prices surging but also saw upstream stocks climbing. In a tweet,…

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dow-futures-collapse-on-threat-of-more-devastating-oil-attacks

A satellite image shows an the apparent drone strike on an Aramco oil facility in Saudi Arabia, with the threat of further strikes flaring up. | Source: Reuters Dow Jones Industrial Average (DJIA) futures collapsed in early trading Monday after drone strikes in Saudi Arabia devastated the oil market. Two attacks on Saudi oil sites…

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drone-attack-boils-oil-price-to-scorch-stock-market-monday

A devastating drone attack sets fire at an Aramco factory, the world’s biggest oil refinery, in Abqaiq, Saudi Arabia, September 14, 2019. | Source: Saudi Arabia is reeling this weekend after a devastating series of drone attacks in Abqiaq left its oil industry in shock. Houthi rebels from the country of Yemen claimed responsibility for…

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