The next thing that will happen in Iraq if protesters’ demands aren’t met is this: They will target oil facilities –the only thing that will force any major change, and indeed, the root cause of protests that have gone beyond anything Iraq has ever seen. It is a possible scenario that should be on every oil trader’s radar, and has the potential to move oil prices more than President Trump, and more than OPEC—if markets interpret it correctly. Last Friday, Iraqi Prime Minister Adel Abdel Mahdi resigned. The Iranians had attempted to keep this from happening–even though Mahdi wasn’t pro-Iranian–because the fragility of the Iraqi government threatens Tehran’s indirect hold on power. The move will embolden protesters even further; Mahdi’s resignation was not enough. After all, some 400 protesters have been killed since October 25th. It will take more than Mahdi’s resignation to end this. This is a countrywide […]