Oil prices spike after Saudi drone attack
(VOVWORLD) - Oil prices surged nearly 20% after a drone attack on Saudi oil facilities knocked out more than five percent of the global oil supply.
 Smoke billows from an Aramco oil facility in Abqaiq after drone attacks sparked fires at two Saudi Aramco oil facilities on September 14, 2019. (Photo: AFP/VNA) |
Brent crude futures, the global gauge of oil, jumped more than 19% on Monday, the highest level since the Gulf War in 1991. The attack cut Saudi Arabia’s output by 5.7 million barrels per day, nearly six percent of global oil production. Houthi rebels in Yemen have claimed responsibility for the attacks, but US Secretary of State Mike Pompeo put the blame on Iran. Iran has denied involvement attacks, calling the US’s accusations an excuse to counterattack.