Why Iran-Saudi Tensions Aren't Affecting Oil Prices

04:26

January 05, 2016

In this April 15, 2008 photo, Iranian oil technician Majid Afshari makes his way at the oil separator facilities in Azadegan oil field, near Ahvaz, Iran. Iran is OPEC's second-largest producer. (Vahid Salemi/AP)

Oil prices rose briefly yesterday after Saudi Arabia, which is Sunni, executed a prominent Shiite cleric over the weekend, setting off a diplomatic row with Shiite Iran. But then oil prices fell, with brent crude finishing down by a little under a quarter of a percentage point Monday.

This kind of tension has pushed up oil prices in the past. Why isn't that happening now? Here & Now's Robin Young asks Ali Velshi, host of "Real Money with Ali Velshi" on Al Jazeera America.

Guest

Ali Velshi, host of "Real Money with Ali Velshi" on Al Jazeera America. He tweets @AliVelshi.

This segment aired on January 5, 2016.