Despite the day's rampacious rally in stocks and crude aftwer "unidentified sourtces" said a Russia-Saudi deal was done, Russia's Dmitry Peskov just issued a statement that "there is hope" for a deal at Doha. This sent stocks and crude jumping once again... even though we suggest "hope" for a deal is not "a deal."
Russian Energy Minister Alexander Novak briefed Russian President Vladimir Putin on latest talks with Saudi Arabia, Kremlin spokesman Dmitry Peskov says in message without saying when talks took place.
“There is hope” that an oil output freeze agreement can be reached in Doha regardless of Iran’s position following Saudi talks.
So buy more crude and stocks...
So, to summarize:
- 1033ET SAUDI ARABIA, RUSSIA REACH CONSENSUS ON OIL FREEZE: ANONYMOUS SOURCE
- 1418ET "THERE IS HOPE" FOR DOHA DEAL : KREMLIN
In today's new normal, just like bad news is good news, so "hope" for a deal... is a deal!!