Thursday, March 01, 2012

Oil Prices Briefly Move Higher on Fire Hoax

I hope the SEC gets to the bottom of this chicanery.


“The reports are completely untrue. They originated from Facebook and Twitter, and the pipeline is still up and running,” one official told Dow Jones Newswires.

Oil futures jumped over $110.55 a barrel in after-hours trading Thursday following a report from Tehran’s PressTV which said that an explosion destroyed pipelines in the “flashpoint” Saudi city of Awamiyah.
An online website called the Arab Digest posted a headline “Saudi Arabia’s Eastern Revolution hits the oil sector – pipeline under fire” and two photos of what it claimed was a pipeline fire. Neither photo showed a pipeline, and the fires didn’t appear large. The photos couldn’t be authenticated.  The site quoted what it said was an unidentified resident of Qatif calling the blazes a message to the U.S. to pressure Saudi Arabia for reform.
“This is just a false propaganda, and we are not going to entertain it,” a second Saudi official said.

I would like to see if this Arab Digest has ties to the Iranian regime or not. 

1 comment:

The Arab Digest said...

Hello there, we have been pretty much critical of Iran since our inception. The website has no budget and is run by volunteers,