Oil, the biggest rise ever. The attack in Arabia depresses the markets
2019-09-16T07:35:14.874Z
The effect on the oil price of the attacks in Saudi Arabia was immediate. Brent, the crude oil of the North Sea, started to rise by 19 and a half percent, the largest increase since oil futures were introduced in 1988. Now the rise is 10 and 43%, to share of $ 66 and a half. We are far from the peak of April, at 74 dollars, and now the question is twofold: when the plants will be restored and if an escalation of attacks is in sight. The WTI, the benchmark crude oil for the American market, almost touches 60 dollars, + 10%. Among the effects there is the race for safe-haven assets, such as gold, which rises by 1%, to 1,503 dollars per ounce. The stock markets fall in Europe: Milan -0.37%, London -0.18%, Frankfurt -0.48%, Paris -0.54%. In Asia, Tokyo is closed for the day of the elderly. Shanghai around parity, Hong Kong drops by 1%. Energy stocks are up in Piazza Affari: Tenaris, + 4%, Saipem, + 3.14%, and Eni, + 2.48%, show the greatest progress. Another day of strong decline for Atlantia, -5%, after -7% on Friday, following an investigation into alleged false reports on the status of viaducts.
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by Fabrizio Patti 16 September 2019The effect on the oil price of the attacks in Saudi Arabia was immediate. Brent, the crude oil from the North Sea, started to rise by 19 and a half percent, the largest increase since oil futures were introduced in 1988. Now the rise is 10 and 43%, at $ 66.5. We are far from the peak of April, at 74 dollars, and now the question is twofold: when the plants will be restored and if an escalation of attacks is in sight. The WTI, the benchmark crude oil for the American market, almost touches 60 dollars, + 10%. Among the effects there is the race for safe-haven assets, such as gold, which rises by 1%, to 1,503 dollars per ounce. The stock markets fall in Europe: Milan -0.37%, London -0.18%, Frankfurt -0.48%, Paris -0.54%. In Asia, Tokyo is closed for the day of the elderly. Shanghai around parity, Hong Kong drops by 1%. Energy stocks are up in Piazza Affari: Tenaris, + 4%, Saipem, + 3.14%, and Eni, + 2.48%, show the greatest progress. Another day of strong decline for Atlantia, -5%, after -7% on Friday, following an investigation into alleged false reports on the status of viaducts.
