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Treasured Social Butterfly
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Re: Oil prices spike after attack on Saudi facilities hits global supply

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Message 21 of 23

Just think...if Trump had not screwed the pooch on the Iranian negotiations....we would have some credibility to resolve this. Well, it was nice being a world power while it lasted. 

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Valued Social Butterfly
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Re: Oil prices spike after attack on Saudi facilities hits global supply

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Message 22 of 23

@KidBoy2 wrote:

https://www.nbcnews.com/news/world/oil-prices-spike-after-attack-saudi-facilities-hits-global-supply...

 

Part of the link..

 

ept. 15, 2019, 6:55 PM MDT / Updated Sept. 16, 2019, 4:45 AM MDT
By Yuliya Talmazan

Oil prices spiked shortly after trading began Monday following a weekend attack on Saudi Arabia's oil facilities that knocked out more than 5 percent of global oil supply and halted output of more than half of the kingdom's daily exports.

Brent crude futures jumped nearly 20 percent, the biggest intraday percentage gain since the Gulf War in 1991, to a session high of $71.95 a barrel at the opening, while U.S. crude futures surged more than 15 percent, to a session high of $63.34 a barrel. Both benchmarks rose to the highest since May.

 

State oil giant Saudi Aramco said the attack on Saturday would cut output by 5.7 million barrels of crude oil per day. It gave no timeline for output resumption, only saying that work to restore production is underway. It said on Saturday it would provide an update in 48 hours.

As news of the attacks broke, Secretary of State Mike Pompeo offered reassurances that the United States would work with its partners and allies to make sure energy markets remain well supplied.

 

------------------------

 

“The world has reserves that could easily handle weeks or a few months of outages from Saudi Arabia,” she said.

 

============================================================

 

I am thankful that the US has increased our oil production.

 

This is not that big a deal to our economy.  What would kill our economy is if we get the Green New Deal.

 

 


Increased by .10 per gallon at some stations today where I live. To night we are still told it will go up as high as .25. So time will tell. You do know that one of the largest oil refineries on the east coast closed a few months ago due to fire, and they say it will be closed for good. The employees have been let go. The sad thing is all but the fire are  due to Trump. If he had not defied the world and lived up to what all the major countries agreed to with Iran none of this would have happened. By the way GB does not agree with what we are saying happened. Trump at work destroying everything, and everybody he touches.

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Oil prices spike after attack on Saudi facilities hits global supply

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Message 23 of 23

https://www.nbcnews.com/news/world/oil-prices-spike-after-attack-saudi-facilities-hits-global-supply...

 

Part of the link..

 

ept. 15, 2019, 6:55 PM MDT / Updated Sept. 16, 2019, 4:45 AM MDT
By Yuliya Talmazan

Oil prices spiked shortly after trading began Monday following a weekend attack on Saudi Arabia's oil facilities that knocked out more than 5 percent of global oil supply and halted output of more than half of the kingdom's daily exports.

Brent crude futures jumped nearly 20 percent, the biggest intraday percentage gain since the Gulf War in 1991, to a session high of $71.95 a barrel at the opening, while U.S. crude futures surged more than 15 percent, to a session high of $63.34 a barrel. Both benchmarks rose to the highest since May.

 

State oil giant Saudi Aramco said the attack on Saturday would cut output by 5.7 million barrels of crude oil per day. It gave no timeline for output resumption, only saying that work to restore production is underway. It said on Saturday it would provide an update in 48 hours.

As news of the attacks broke, Secretary of State Mike Pompeo offered reassurances that the United States would work with its partners and allies to make sure energy markets remain well supplied.

 

------------------------

 

“The world has reserves that could easily handle weeks or a few months of outages from Saudi Arabia,” she said.

 

============================================================

 

I am thankful that the US has increased our oil production.

 

This is not that big a deal to our economy.  What would kill our economy is if we get the Green New Deal.

 

 

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