Many drivers are likely to have moved the news of the drone strikes on oil refineries in Saudi Arabia weekend to a spontaneous refueling stop. For the reports of a significant increase in oil prices is also accompanied by concerns about higher fuel prices.
In fact, oil prices rose significantly on Monday in the first few minutes of trading. Initially, oil prices climbed by as much as 20 percent before returning some of the increase. A barrel (159 liters) of the North Sea Brent
However, the impact on the German market and for motorists in this country are likely to hold in the opinion of the Petroleum Industry Association (MWV) within limits. "From Saudi Arabia hardly comes oil to Germany - in 2018 it was one percent," said a federation spokesman for the news agency dpa. "There is no bottleneck risk for oil in Germany."
The global oil price could rise in the short term. Whether this would noticeably and permanently affect German tank customers, but was open. Other countries are in the medium term able to expand their production and compensate for the failure so. Before the attacks in Saudi Arabia, the oil price of the relevant North Sea Brent variety was rather low at around $ 60 per barrel (159 liters), according to the MWA. The price has long been at more than $ 100.
The Ifo Institute's President, Clemens Fuest, expects the oil price to normalize rapidly after a strong rise. "Constantly rising oil prices and consequent burdens on the economy are only to be expected if the supply of oil is actually permanently reduced," said Fuest dpa.
The riparian states of the Persian Gulf produced a good third of global oil. If there were a massive armed conflict there, the global oil supply would be disrupted and prices would rise significantly. "Currently, however, says little that it comes to this," predicted the Ifo boss.
Other experts are less relaxed. The oil circuit disruption is quite significant, said Mele Kari, head of the Nigerian National Petroleum Corporation Nigerian National Petroleum Corporation, the financial broadcaster Bloomberg TV. "If it continues, it could be a major challenge for the oil market."
Energy analyst Joe McMonigle of investment advisor Hedgeye Risk Management said that if the US taped its strategic oil reserve, it could dampen a surge in oil prices, particularly in a coordinated move with the International Energy Agency (IEA).
REUTERS
Smoke over oil plant in Abkaik: Concern about rapidly rising prices
US President Donald Trump approved the release of national oil reserves in the event of bottlenecks. He wrote on Sunday evening on the basis of the attack, "which could affect the oil prices", he had approved - if necessary - the release. The amount he has not yet set, but it will be sufficient, "to supply the markets well." The energy agency IEA in Paris initially saw no supply problems. For now, the markets are well supplied with plenty of commercial stocks.
Experts do not necessarily expect US intervention in the oil market. Until a claim for damages is available, he can not predict the likelihood of tapping US national reserves, said US analyst Robert McNally, a former member of the National Security Council, and now an expert on Washington-based energy consultancy Rapidan Energy is working. "I suppose that's just verbal reassurance," he said. "If the damage is not immense, I doubt we'll see a tap."
On Saturday, two plants belonging to the Saudi Arabian state-owned company Aramco had been attacked in Abkaik and Churais in the east of the country. The Yemeni Houthi rebels, who are supported by Saudi Arabia's archenemy Iran, claimed responsibility for the attacks. Tehran denied any involvement.
US President Trump made no statement as to who the US claimed to be the cause of the attack, but already threatened with retaliation.
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