Post Saudi attacks, oil may touch $100
London, September 15
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Attacks on two plants at the heart of the kingdom’s oil industry on Saturday knocked out more than half of the Saudi crude output, or 5 per cent of the global supply. Industry sources have said it may take weeks to bring production fully online. — Reuters