The attacks on Saudi Arabia that have sent crude-oil prices surging are certainly the story for financial markets on Monday. Whether they are more than just a fleeting headline depends on just how long production is knocked out or whether the facilities get attacked again.
It’s worth pointing out that even with the big 10% rally in crude-oil prices, Brent crude prices BRN00, -1.67% , trading around $65 a barrel, are still below year-earlier levels. On Sept. 17, 2018, Brent traded at $78.40. So, deep breath. If oil prices stay below triple digits — $100 a barrel translate to roughly $3.57 a gallon at the pump — the economic consequences are not likely to be great.
The Fed wasn’t sure whether oil prices caused recessions or simply was a proxy for other determinants of the business cycle.
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Crude Prices Soar After Saudi Oil Disruption, Threatening Global GrowthOil prices soar after Saudi attack; U.S. crude futures up 12%, global benchmark rises 18% Fuck you people. Thank you. Will have to quit my job. Can't afford it now at 200 a month in fuel. At 400 may as well be like the neighbor on welfare sitting on the porch smoking cigarettes for free. Yup. That was the plan. The real story: The oil sitting in the tank at your local heating oil company finds excuse to rip off customers and steal hard-earned money.
Source: WSJ - 🏆 98. / 63 Read more »
Oil jumps the most ever after attack cuts Saudi Arabian suppliesGlobal oil prices surged the most on record after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran. Hard to believe the Saudis won't retaliate. The US is waiting on a foreign government to tell us wether to strike Iran. What a time to be alive. This is the Houthi movement slogan. In 2003, the Houthis' slogan 'God is great, death to the US, death to Israel, curse the Jews, and victory for Islam', became the group's trademark. Any American politician backing this terrorist attack should be voted out of office.
Source: latimes - 🏆 11. / 82 Read more »
Oil prices spike after attack on Saudi facilities hits global supplyOil 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. I’d say trump’s behind the whole damn thing. This is soooo trump like! TrumpDidIt Breaking: Big win for Globalist Shadow Government. 🇺🇸 realDonaldTrump PatriotsUnited Better buy stock in renewable energy companies. There won't be blood.
Source: NBCNews - 🏆 10. / 86 Read more »
Oil prices soar 10% after attack on Saudi facilities hits global supplyOil prices retreated on Monday after hitting their highest since May at the open... 18% ... up as of now Topped off my tank at 2.17 a gal. Let's see what happens. People still dey that school?
Source: Reuters - 🏆 2. / 97 Read more »
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... Ridiculous Did any people or animals 🐪 get hurt? Kenya is happy. She can now comfortably raise local fuel prices.
Source: Reuters - 🏆 2. / 97 Read more »
Attack is a game-changer in Gulf confrontationThe attack on the world's largest oil processing plant early Saturday morning is a dramatic escalation in the confrontation between Iran and Saudi Arabia -- even if the Iranians didn't fire the drones or missiles responsible. | Analysis by TimListerCNN TimListerCNN hi TimListerCNN Compared to the largest humanitarian disaster in the world, Yemen, its a stretch to say this is a dramatic escalation. TimListerCNN Thank Cheeto Jesus for making this crisis...
Source: CNN - 🏆 4. / 95 Read more »