How will the sharp drop in oil prices affect Israel’s relations with its neighbors?
Plunging oil prices have far-reaching implications for the global economy, the Middle East and the Jewish state.
A BOARD showing currency exchange rates in Moscow on Monday, when oil prices fell to their lowest in five years. Russia’s ruble dropped more than 4 percent against the dollar while Malaysia’s ringgit, also oil-dependent, was on course for its biggest two-day fall since the 1997-8 Asian financial crises. (photo credit:REUT
Oil, once a strategic ace, strategic prince and political joker, is on the skids Hardly half a year since piercing the $100/barrel ceiling and peaking at $103, crude prices this week cracked the $65 floor, as some analysts predicted a $30 barrel sometime next year.
Such dives happen routinely in financial markets, but this one is different – because oil prices vector economic, industrial and geopolitical pushes and pulls more tellingly than any commodity, currency, bond or share.
Read more…










