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Crude oil futures surged 15%, hit by Saudi oil facility

2019-09-16T21:01:32.172Z


[New York 16th Reuters]-Crude oil futures prices in US time rose about 15%. North Sea Brent's rate of increase is more than 30 years after the attack on the oil facility of Saudi Aramco, a state-run oil company in eastern Saudi Arabia


[New York 16th Reuters]-Crude oil futures prices in US time rose about 15%. Following the attack on the oil facility of the state-run oil company Saudi Aramco in eastern Saudi Arabia, North Sea Brent's rate of increase was the first in over 30 years and the highest volume was recorded.

The liquidation is $ 68.02 (14.6%) higher for North Sea Brent <LCOc1> = $ 69.02. The daily rate of increase is at least the magnitude since 1988.

US WTI <CLc1> is $ 6.05 (14.7%) higher at $ 62.90. The daily rate of increase has been the largest since December 2008.

“The Saudi attack on the oil infrastructure has brought shock and surprise to markets that are more focused on supply and demand and not conscious of volatility,” said CHS Hedging energy market analyst Tony Headrick.

The Chicago Options Exchange (CBOE) crude oil volatility index (VIX) <.OVX> was 77.17, the highest level since last December.

Source: asahi

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