Oil prices surged more than 15% at the open on Sunday after an attack on Saudi Arabia's oil facilities on Saturday that knocked out more than 5% of global oil supply.
NEW YORK — Oil prices surged more than 15% to their highest level in nearly four months at the open on Sunday afteron Saturday that knocked out more than 5% of global oil supply.
Prices were up about 12% by 6:29 p.m., giving up some gains after President Donald Trump said he authorized the release of oil from the U.S. Strategic Petroleum Reserve if needed in a quantity to be determined because of the attack on Saudi's facilities. Aramco gave no timeline for output resumption. A source close to the matter told Reuters the return to full oil capacity could take"weeks, not days."
"Even if the outage normalizes quickly, the threat of sidelining nearly 6% of global oil production is no longer a hypothetical, a black swan or a fat tail. Welcome back, risk premium."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Oil prices surge 15% after attack on Saudi facility hits global supplyOil prices surged more than 15% at the open on Sunday after an attack on Saudi A...
Baca lebih lajut »
Attacks on Saudi facilities threaten spare oil capacity, price hikesSaturday's attacks on key Saudi Arabia processing plants will test the worl...
Baca lebih lajut »
Opec Slides Closer To Collapse As An Oil Glut Overpowers The Oil PriceA sliding oil price could be just the start of something more serious next year for Opec, the oil cartel, and its close associate, Russia.
Baca lebih lajut »
The Latest: Saudi Arabia says drones attacked oil facilitiesDUBAI, United Arab Emirates (AP) — The Latest on the explosion and fire an oil facility in Saudi Arabia (all times local): 9:10 a.m. Saudi Arabia says drones attacked two major oil...
Baca lebih lajut »
Saudi Arabia Shuts In 5 Million Barrels Of Daily Oil ProductionAfter an alleged drone attack struck a giant refinery and one of its major oil fields, Saudi Arabia’s Interior Ministry announced on Saturday that the government would shut-in half of its national oil production.
Baca lebih lajut »
Yemen drones hit Saudi oil sites, including key chokepointDrones launched by Yemen’s Houthi rebels attacked the world’s largest oil processing facility in Saudi Arabia
Baca lebih lajut »