The elimination of the prominent Shiah Leader in Saudi Arabia, Al-Nimr, triggered off a collision between Sunni and Shiah Islamic worlds. It also granted a chance for Oil bulls to effectively turn the event in their favor resulting in the commodity gains for two consecutive days. WTI has already soared by 2.08%, with potential to rise even more as Islamic tensions intensify and production quotes may be affected.
US Indices started the week with perceptible drop, Dow Jones fell by 0.84% to 17,195.00, while S&P 500 Mini slid by 0.76% to 2,020.00 points. Nikkei index went into nosedive fall losing more than 3% today after China Manufacturing data showed slowdown and market fears increased. European FTSE index also depreciated by 1.18% to 6,125.00 points. Investors are probably worried about Middle East tensions and Asian weak performance so quitting riskier assets may be the wisest decision to wait through the uncertainty at the start of 2016.Publication source