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Oil prices soar after attacks on Saudi facilities

ITN News Editor
By ITN News Editor September 16, 2019 13:02

Oil prices soar after attacks on Saudi facilities

Oil prices hit their highest in four months after two attacks on Saudi Arabian facilities knocked out more than 5% of global supply. At the start of trading, Brent crude jumped 19% to $71.95 a barrel, while the other major benchmark, West Texas Intermediate, rose 15% to $63.34. Prices eased back slightly after US President Donald Trump authorised the release of US reserves. It could take weeks before the Saudi facilities are fully back on line. State oil giant Saudi Aramco said the attacks cut output by 5.7 million barrels per day.

ITN News Editor
By ITN News Editor September 16, 2019 13:02