By: John Stepek 16/09/2019 This article is taken from our FREE daily investment email Money Morning. Every day, MoneyWeek’s executive editor John Stepek and guest contributors explain how current economic and political developments are affecting the markets and your wealth, and give you pointers on how you can profit.Sign up free here. The price of oil spiked by a fifth at one point this morning. Brent crude surged by nearly $12 a barrel, to more than $71. It’s eased back since then but it’s still up by more than 10%. You don’t see those sorts of moves every day. But then, nor do you see half of Saudi Arabia’s oil production knocked out of action every day. How half of Saudi Arabia’s oil production was knocked out On Saturday, Saudi Arabia’s oil infrastructure was attacked. I’m an expert on neither oil treatment plants nor military hardware (this isn’t a Tom Clancy novel), so I’m not going to get technical here, and I apologise to the many engineers among our readers if I get anything wrong. But long story short, oil needs to be treated before it is ready for export. The Saudi facility, Abqaiq, is a key part of this… Read full this story
- Ogra recommends up to 16.9pc hike in oil prices
- Crude oil price to dictate market sentiments: Experts
- Are Sacramento home prices reaching 'bubble' bursting levels?
- Nifty earnings see 17% cut in FY19 amid rising oil prices, bond yields
- Oil prices and energy companies jump as US stocks rise
- Oil prices, monsoon to drive equity market sentiments
- U.S. Gives Russia 'Unexpected Present' With Iran Sanctions and Oil Price Surge
- Will oil prices fall further? Big OPEC meet in Vienna this week; here is what to expect from the cartel
- IndiGo to levy up to Rs 400 fuel surcharge per passenger on domestic routes to offset rising oil prices; fares set to rise
- Oil prices steady after shake-out on supply worries
Could spiking oil prices burst the bubble in bonds? have 333 words, post on moneyweek.com at September 16, 2019. This is cached page on Business Breaking News. If you want remove this page, please contact us.