Saudi stock market dives, crude futures to jump after drone attack on oil plants

Yemen’s Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.

Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia’s largest oil field, forcing the kingdom to cut its oil output in…

Trusii’s hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.

The decoupling of the world’s two weightiest economies seems as inescapable as its extent and global impact remains incalculable.

Publisher: CNBC
Date: 2019-09-15T09:44:32+0000
Author: Author link
Twitter: @CNBC
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U.S. accuses Iran of launching drone strikes against Saudi Arabian oil plant

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Saudi Arabia Drone Attack Is a Strike at Oil’s Future

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Factbox: Inside Saudi Aramco’s oil operations

drone attacks on two major oil facilities run by state-owned company Aramco, including the world’s biggest petroleum processing facility.

Two sources close to the matter said 5 million barrels per day of crude production had been impacted ‘ close to half of the kingdom’s output or 5% of global oil supply.

The pre-dawn drone attack by Yemen’s Iran-aligned Houthi group set off several fires, although the kingdom, the world’s largest oil exporter, later said these were brought under control.

Here are key facts about the historically secretive oil company, including details released this year of its finances and operations.


Publisher: U.S.
Date: 2019-09-15T09:54:25+0000
Author: Reuters Editorial
Twitter: @Reuters
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Oil could rise $10 per barrel after drone attack reportedly forces Saudi to cut output in half

Oil prices could jump as much as $10 per barrel after a number of drone strikes hit the center of Saudi Arabia’s oil industry, reportedly forcing the kingdom to cut its oil output in half.

Ten drones attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, reportedly causing a loss of almost five million barrels of crude production a day or about 5% of the world’s daily oil production. Videos for Saudi Stock Market Dives , Crude Futures Saudis Race to Restore Oil Output After Crippling Aramco Attack Bloomberg.com Although it’s still too early to tell the extent of the damage and how long the facilities will be shut down, oil analysts and traders told CNBC the impact on the commodity’s price could be double digit.

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