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Oil prices surge 15% after attack on Saudi facility hits global supply

Published 15/09/2019, 23:18
© Reuters.  Oil prices surge 15% after attack on Saudi facility hits global supply

NEW YORK, Sept 15 (Reuters) - Oil prices surged more than

15% at the open on Sunday after an attack on Saudi Arabia's oil

facilities on Saturday that knocked out more than 5% of global

oil supply.

Brent crude futures jumped more than 19% to a session high

of $71.95 a barrel at the opening, while U.S. crude futures

surged more than 15% to a session high of $63.34 a barrel.

State oil giant Saudi Aramco said the attack cut output by

5.7 million barrels per day, at a time when Aramco is trying to

ready itself for what is expected to be the world's largest

share sale. Aramco gave no timeline for output resumption. A source

close to the matter told Reuters the return to full oil capacity

could take "weeks, not days."

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