I was surprised to hear on Sunday that drone strikes knocked out some oil producing facilities in Saudi Arabia on Saturday. After hearing the news, I made a special trip to the gas station on Sunday to fill up my car expecting gas prices will jump this week due to higher oil prices.
It seems like every few weeks we hear of some new development in the Middle East that ripples through the markets. Not too long ago, there were a couple of attacks on oil tankers in the Persian Gulf. Such news (and market reactions) can certainly be unsettling.
I’ll be paying close attention this week to news and upcoming research reports. If I read anything that changes my overall outlook for the economy or the financial markets, I’ll be in touch. In the meantime, feel free to give me a quick call if you have any questions.