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Oil spiked a record 20% on the sudden attack to Saudi Arabian oil supplies

oil

  • Crude oil surged more than 20% on Monday after markets reopened following the targeted drone strikes on Saudi Arabian oil facilities.
  • “This is a big escalation in terms of the scale and reach of these attacks so raises prospect of ongoing disruption and raises the geopolitical danger.”
  • View Markets Insider’s homepage for more stories.

Oil prices surged as much as 20% in opening trading on Monday after a shock attack on Saudi Arabian oil facilities, which Bloomberg said affected almost 6 million barrels, or about 5% of the global market.

After the initial spike, Brent crude was up 8.4% to about read more >>>

Source:: BusinessInsider.Com