Art Cashin: The Real Middle East Danger Now
Geopolitical events are going to be in focus over the next two weeks, said Art Cashin, director of floor operations at UBS Financial Services.
“While everyone’s looking at Libya, which is an awful sight, I’m keeping my eye on Bahrain,” Cashin told CNBC.
“That could be the whole key to the Middle East.”
Bahrain has a large Shiite Muslim population and they are governed by a Sunni monarchy — and people close to the intelligence community think that the Iranians are aiding in some of the unrest in the streets, so that’s going to be a key area, explained Cashin.
Meanwhile, both Brent and U.S. crude oil prices rallied to 2-1/2 year highsamid concerns that the revolt in Libya could spread to other major oil producers, as companies suspended operations and ports were disrupted.
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Scorecard—What He Said:
- Cashin's Previous Appearance on CNBC (Feb. 18, 2011)
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More Market Intelligence:
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- Nasdaq May Retreat 11% after Reaching 3000: Charts
- Oil Markets to Price in More Risk on Mideast: Survey
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CNBC Data Pages:
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CNBC Slideshows—FYI:
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Earnings Coming Up This Week:
Hewlett-Packard
TJX
General Motors
Target
AIG
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Disclosures:
No immediate information was available for Cashin or his firm.
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