Oil down as threat of military action prompts price spike
Saturday’s attacks on Saudi refineries raised the prospect of a major supply shock in a market, despite there being a surplus globally
17 September 2019 - 12:38
Tokyo/London — Oil prices declined on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that halved the kingdom’s output and prompted a price spike not seen in decades.
Saturday’s attacks raised the prospect of a major supply shock in a market that, in recent months, has focused on demand concerns due to the pressure on global growth from an ongoing US-China trade dispute. Saudi Arabia is the world’s top oil exporter and has been the supplier of last resort for decades...
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