Saudi disruption sends oil soaring
8m
Global oil prices rose above $108 per barrel as analysts warned of a prolonged oil shock, saying Saudi export disruptions could drive prices toward $150–200 a barrel.
Estimates vary on how long it could take before a crucial pipeline is repaired, but a prolonged shutdown could push oil prices to their highest levels in months.
Estimates vary on how long it could take before a crucial pipeline is repaired, but a prolonged shutdown could push oil prices to their highest levels in months.
by Jason Lyall
Reposted by Brian Young, Henry Jones
www.semafor.com/article/09/1...
www.semafor.com/article/09/1...
by Eric Jones
Prices and supply are global. And global oil stocks are already gone. It's a calamity. 1/
Reposted by Will Jennings
Reposted by Michael D. McDonald
From #Reuters: Saudi Arabia shuts down its East-West desert oil pipeline after drone attacks, oil goes above $120/barrel.
Some September-loading crude cargoes to Europe will be cancelled and oil loadings at the Red Sea port of Yanbu have been suspended.
www.reuters.com/business/ene...
From #Reuters: Saudi Arabia shuts down its East-West desert oil pipeline after drone attacks, oil goes above $120/barrel.
Some September-loading crude cargoes to Europe will be cancelled and oil loadings at the Red Sea port of Yanbu have been suspended.
www.reuters.com/business/ene...