Has the gusher come a cropper?

Just imagine the billions of dollars pouring into the Mid East oil producing states since crude broke over US$60/barrel. Where does it go? A great deal of it has gone into the Mid East share markets. And then it just disappeared. Tanked.

Is it in any way analagous to the commodity boom and the Australian share market?

See the following on the Mid East markets:

Bull market over in the Middle East?

Big Losses in the Gulf

Middle East woes