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“Our country is facing continuous threat because of its almost total dependency on oil,” Saudi billionaire Prince Alwaleed bin Talal wrote in a letter copied to King Abdullah, among others.
“Our country is facing continuous threat because of its almost total dependency on oil,” Saudi billionaire Prince Alwaleed bin Talal wrote in a letter copied to King Abdullah, among others.
(FAHAD SHADEED/REUTERS)

How the Iran-U.S. thaw changes the oil market

Israel doesn’t like it, nor do hawkish U.S. Republicans, and in Canada, the loonie gave President Obama’s rapprochement with Iran a big thumbs-down. Canada stands to lose greatly from a weakening of trade sanctions against the Islamic Republic, thanks to the prospect of more Iranian oil on the market.