“We’re in a three-way Mexican stand-off with three big players in the room all saying, ‘if you screw that guy over there, you are screwing me over, so I’m going to screw you over. It’s a strange triangular discussion from which no side wants to back down and all are going to feel the pain.”

-Michael Stephens, associate fellow at the Royal United Services Institute, on the current oil price war between Saudi Arabia, Russia, and the United States. [FT.com]