A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York yesterday

KEY POINTS
  • Ten drones attacked one of Saudi Arabia’s largest oilfields in Hijra Khurais and the world’s biggest crude processing facility at Abqaiq on Saturday, causing a loss of 5.7 million barrels of crude production a day.
  • Although it’s still too early to tell the extent of the damage and how long the facilities will be shut down, oil analysts told CNBC the impact on the commodity prices could be in the double digits.
  • “This is a big deal,” said Andrew Lipow, president of Lipow Oil Associates. “Fearing the worst, I expect that the market will open up $5 to $10 per barrel on Sunday evening.”
  • “If Abqaiq kills talks of easing sanctions and the discussion turns to retaliation and escalation, I think oil could easily trade higher by $10 or more,” said Bob McNally, president at Rapidan Energy Group.

GP: NYSE trader down market Dow plunge US-STOCKS-MARKETS-CLOSE

A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York.

 

more>>>>>>

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s