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Aramco Attack Updates: Oil Prices Rises 20% on Monday Marking First Record since 1991

Oil prices soared as much as 20% on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, according to Reuters which reported the latest consequences of the Yemeni drone attack on sites Aramco facility.
Aramco Attack Updates: Oil Prices Rises 20% on Monday Marking First Record since 1991
Reuters report included also the following major points:
* Saudi Aramco’s full return to normal oil output volumes “may take months”, two sources said on Monday.
* Saudi Arabia usually ships more than 7 million bpd of oil to global destinations and has for years served as the market’s supplier of last resort.
 * The attack, which knocked out more than half of Saudi Arabia’s output, constrained its ability to use more than 2 million bpd of spare oil capacity held for emergencies.
Yemeni revolutionaries claimed responsibility on Saturday for drone attacks on two major facilities run by Saudi Aramco, Saudi Arabia’s state-owned oil giant.
 
 
Tuesday 17 September 2019 00:04
Story Code: 191677 Copy text available
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