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.
Scorecard—What He Said:
- Cashin's Previous Appearance on CNBC (Feb. 18, 2011)
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No immediate information was available for Cashin or his firm.