Saudi Arabia aims for $100 Oil

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Oil rose to a three day high as Saudi Arabian Oil Minister, Ali al-Naimi, indicated that he thought the fair price of oil is $100 a barrel. This is seen by analysts as a requirement from the Saudi goverment to fund social projects in order to prevent protests like those seen elsewhere in the region. Saudia Arabia is getting a helping hand by friction in the Staits of Hormuz as Iran continues to flex is muscles over the waterway in response to increased international sanctions.

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Saudi Arabia aims for $100 Oil

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