Energy

Oil prices are in a light volume haze as many traders celebrate Rosh Hashanah. This comes as the Saudi Crown Prince is making dire warnings about the price of oil if we go to war with Iran.
The crude oil market is caught in an impeachment trap yet a late-breaking story may give oil direction.  Saudi Arabia agrees to a partial cease-fire in Yemen.
Secretary of State Mike Pompeo announced a crackdown on Chinese shipping companies and tanker firms for continuing to carry Iranian crude after sanctions waivers ended in May.
Oil prices sold off hard as word spread that Speaker of the House Pelosi was going to announce a so-called “formal Impeachment” inquiry of President Donald Trump.
Britain, France, and Germany are now blaming Iran for this month’s attacks on Saudi Arabia. UK Prime Minister Boris Johnson, President Emmanuel Macron of France and Chancellor Angela Merkel of Germany issued a joint statement where they agreed that Iran was responsible.
Not only are we getting mixed messages about how fast Saudi’s oil production can recover from last weekend’s attack but we are also getting mixed messages on the state of the global economy with weak manufacturing data coming out of Europe.
While most of the oil trade was focused on comments coming out of Iran and Saudi Arabia, tropical depression Imelda delivered a sucker punch to the Texas coast. Unrelenting rains flooded shut refineries. Cut power to others and shut down a distillate pipeline. 
Crude oil prices backed off after it appeared that President Trump backed off from war. As the blame for the weekend attacks is being pointed towards Iran.
After hours of wild speculation about how fast Saudi Arabian oil infrastructure could come back, a definitive statement by the Saudi oil minister seemed to end the debate. Or did it?
Crude oil prices are trying to stabilize after the record-breaking session yesterday as traders are coming to grips on an attack of Saudi oil fields and processing plants.