Saudi Arabia and Iran: tensions high, oil prices low.

You remember we started with capitalism and the vagaries thereof, China and global contagion and all that?

Here’s the counter-example that proves the rule about the vagaries of capitalism, that is.

You’ve got two of the world’s top ten oil producers Saudi Arabia and Iran at each other’s throats, diplomatically speaking.

Oil today?

Both major benchmarks, West Texas Intermediate and Brent North Sea Crude, off at the close. 

That’d be the law of supply and demand right there.