66 Articles
Report
U.S. blames Iran for attack on Saudi facilities, and world oil price spikes

Benchmark oil prices are up by 10%

Global energy prices spiked on Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record, an assault for which President Donald Trump warned that the U.S. was "locked and loaded" to respond. U.S. officials offered satellite images of the damage at the heart of the kingdom's crucial Abqaiq oil processing plant and a key oil field, alleging the pattern of destruction suggested the attack on Saturday came from either Iraq or Iran —

Followup
Cheap gas unlikely to get even cheaper

Russia and Saudi Arabia agree to production-level freeze

Russia and Saudi Arabia agree to hold production to January's near-record output, but with Iran's production ramping up, the effect on prices could be minimal. Still, we worry.

/ 4