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Oil Prices Soar after the Attacks in Saudi Arabia

Tuesday 17 September 2019

LYON (euronews) — Oil prices rose by nearly 20% — the biggest intra-day gain since 1991 — after the attack on Saudi Arabian oil facilities over the weekend. The prices came off the record peak after the US President authorised the use of the country’s reserves to ensure stable supply.

However, since the attack stopped half of Saudi Arabia’s production — or 5% of world supply — oil prices are still at their highest level in a few months.

Crude Oil (CL:NMX)
Data as of Sep 16, 2019 9:58 PM ET: $61.78 (-$1.12, -1.78%)
(Source: Nasdaq)

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