After the Aramco attacks .. Oil prices are on fire

Oil prices in the global markets rose by more than 10%, bringing the price of Brent to $ 67 a barrel. Russian Energy Minister Alexander Novak said Saudi Aramco's attacks could negatively affect global energy security.

The rise followed attacks on Saudi Aramco's eastern oil facilities on Saturday, affecting more than 5% of global oil supplies. Prices at the opening of the markets jumped to about 20%, the largest rise in 28 years.

The Washington Post reported that the administration of President Donald Trump is considering a military response, amid calls in the Pentagon and Congress for restraint.

Trump said on Sunday he had allowed the withdrawal of strategic oil reserves when necessary because of the attack on two oil facilities in Saudi Arabia.

Effect
"Based on the attack on Saudi Arabia, which could have an impact on oil prices, I allowed the withdrawal of strategic oil stocks if needed, and the amount to be determined would be sufficient to maintain good market supplies," Trump said on Twitter.

"We have to see what happens in Saudi Arabia before any decision is made on Russian oil production," a Kremlin spokesman was quoted as saying.

Saudi Aramco said the attacks had cut oil production by 5.7 million barrels per day. The company did not provide a timeframe to fully resume production. A return to full capacity could take weeks, an informed source told Reuters.

A source in the oil industry told Reuters that Saudi Arabia's oil exports will continue as usual this week; as the Kingdom uses the inventory from its major facilities.