Global oil supplies are strong and demand remains relatively tepid, so why would crude oil prices suddenly stop dropping around $80 per barrel? There are several built in stabilizers that could act to support crude oil prices.
A gunman on Tuesday opened fire on two American employees of a US defense contractor, killing one and wounding the other at a gas station in Saudi Arabia. US officials were in close contact with the Saudi government as they gathered details about the shooting and a possible motive, a official said.
Saudi Arabia sent 30,000 soldiers to its border with Iraq after reports that Iraqi soldiers had abandoned their posts, reports Saudi-owned al-Arabiya TV. But Iraqi officials denied Iraqi forces had withdrawn. Saudi Arabia also named a new spy chief.