Saudi Arabia and American frackers are gearing up for the second oil war. Saudi Arabia has kept its promise. For a while things in the oil market seemed like back in the old good days: oil prices headed north, approaching the magic number of $60, and the Saudi Kingdom was talking up its grand plan, the Aramco IPO. But in the last three days the oil market has gotten oversupplied, and oil prices are heading south again, dropping below the other magic number, $50. Financial Product 3-day performance 5-year Performance iPath S&P GSCI Crude Oil (OIL) -11.03 -80.36% United States Oil Fund (USO) -9.15 74.69% Market Vector Oil Services (OIH) -4.50 30.83%Source: Finance.yahoo.com 3-10-2017

Source: Forbes March 12, 2017 15:13 UTC