ICYMI – Saudi Oil Minister’s Threat: Tells Oil Speculators to ‘Be Careful’, Pain Ahead

This from Tuesday US time:

• Saudi Oil Minister Prince Abdulaziz bin Salman on Tuesday told market speculators to “be careful”, reiterating his warning that they could face pain. “The speculators, like in any market, they’re here to stay. I keep saying they’re gonna be ouch. They did it in April. I don’t have to show my cards, I’m not (a) poker player… but I would just tell them to be careful,” he told a Qatar Economic Forum energy panel in Doha.

His threat pushed up the price of oil, gains that were added after inventory data later:

Next OPEC meeting on June 6.