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The price of oil soars more than 10% after attacks on several refineries in Saudi Arabia

2019-09-16T04:29:09.172Z

The price of oil has skyrocketed more than 10% on Monday in Asian markets, after attacks on two oil plants in Saudi Arabia, which forced the reduction of



  • Supply: Trump authorizes the release of oil from US strategic reserves
  • Saudi Arabia: Doubts are growing about the authorship of the attack on Saudi facilities while the market is preparing for a rise in crude oil prices
  • Heart attack of crude oil The world's largest oil company operates at 50%

The price of oil has skyrocketed more than 10% on Monday in Asian markets, following attacks on two oil plants in Saudi Arabia, which forced the production of the kingdom to be halved.

By 02.10 GMT, the price of a barrel of "light sweet crude" (WTI) for delivery in October rose 4.85 euros ($ 5.38), up 9.81%, to 54.40 euros (60 , $ 23) in electronic exchanges in Asia.

The Brent barrel of the North Sea for delivery in November advanced 11.04% (6 euros), up to 60, 39 euros (66.87 dollars).

Yemen's Houthi rebels, backed by Iran and facing a Riyadh-led military coalition for five years, claimed these attacks against facilities of state-owned giant Aramco, which caused a production reduction of approximately 5.7 million barrels per day , 6% of world supply.

The barrel of Brent came to win almost 20% on Monday, while the WTI stood momentarily at a 15% rise.

For his part, the president of the United States, Donald Trump , said on Sunday that he was willing to respond to the drone attack.

Trump also announced that he authorized the use of US strategic oil reserves if necessary, to compensate for the drop in production in Saudi Arabia.

US Secretary of State Mike Pompeo said on Saturday that there is no evidence that the attack came from Yemen, pointing directly to Iran, adding that Washington "will work" with its partners to ensure market supply .

Given the possible economic impact of these incidents, Washington has begun to coordinate with the International Energy Agency (IEA), an organization created after the 1973 oil crisis, to see what "possible options are available in case I need to take a global collective action, "said the US Department of Energy.

That department controls the Strategic Petroleum Reserve (SPR), which has the largest supply of crude oil for emergencies worldwide.

These oil reserves, owned by the US Government, are located in huge underground caverns on the coast of the Gulf of Mexico, specifically in the states of Texas and Louisiana.

Tehran called these accusations "foolish" and "incomprehensible," according to the words of the Foreign Ministry spokesman, Abas Musavi , who considered that they only seek to justify "future actions" against Iran.

"Tensions in the Middle East are increasing rapidly, which means that this case will continue to speak during the week, beyond this morning's panic moment in the oil markets," said Jeffrey Halley, an analyst at Oanda.

The war in Yemen is the scene of a pulse of power between Tehran and Riyadh. The conflict intensified in March 2015 with the intervention of the Arab coalition led by Saudi Arabia and supported by the US against the Houthi rebels, who are backed by Iran.

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Source: elmuldo

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