Saudi Arabia has the upper hand in their ongoing price war with Russia, said Again Capital Founding Partner John Kilduff in an interview with CNBC. “[Saudi Arabia] are sticking to their guns,” he said, as oil prices jumped by around 8 percent on Tuesday.
"They've gone nuclear here," says @KilduffReport on Saudi Arabia's move to raise production and slash prices for crude. "Whatever happened with that meeting it was more than just a polite business disagreement. It was a falling out between [Russia and Saudi Arabia]." #oilpricewar pic.twitter.com/jHeTeAyasC— Squawk Box (@SquawkCNBC) March 9, 2020