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Crude oil futures drop, focus on responding to Saudi oil facility attack

2019-09-17T02:19:37.885Z

[Tokyo 17th Reuters]-Crude oil futures in Asia time fell 1%. Saudi Aramco's oil facility in Saudi Arabia was attacked by an attack on the oil facility, but it surged the day before, but it is now waiting for the response of Saudi and the United States



[Tokyo 17th Reuters]-Crude oil futures in Asia time fell 1%. Although the oil facility of Saudi Aramco, a state-owned oil company in Saudi Arabia, was attacked, the price increased sharply the previous day.

The index showing the volatility of the crude oil market has been at the highest level since December last year, and the market seems to expect the market price to rise over the next few months.

As of 0051GMT (9:51 am Japan time), North Sea Brent futures are $ 0.77 (1.1%) lower per barrel = $ 68.25.

US WTI is $ 0.808, down $ 0.82 (1.3%).

The North Sea Brent market soared nearly 20% on the previous day and recorded the first significant increase for about 30 years. The liquidation value was about 15% higher.

CitiIndex analyst Fiona Cincotta said, “The United States is 'prepared for war' and is waiting for Saudis to suggest that Iran has been involved. Under such circumstances, crude oil prices may remain high for the time being. "

“However, we must not forget that the outlook for demand is not good, and that oil prices are likely to be pushed down soon.”

According to Saudi Aramco, the country's oil production is expected to decrease by 5.7 million barrels a day due to the attack.

Source: asahi

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