AI Summary
Oil prices surged on Monday following the terrorist attacks on Saudi Aramco’s facilities on Saturday.
Brent crude neared $72 per barrel (over 19% increase) before it settled at a 10 percent rise to $66.67 per barrel.
Nymex crude reported an all-time high at $63.34 per barrel (up 16 percent), to settle afterwards at $59.84 per barrel (a 9 percent rise).
Drone attacks sparked fires at two Saudi Aramco oil facilities in Abqaiq and Hijrat Khurais at 4am on Saturday, Sept. 14, Argaam reported.
After a temporary production halt, the company’s crude oil supply was estimated to drop by around 5.7 million barrels per day or about 50 percent of its output.
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Brent Crude’s Highest Daily Gains Ever |
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Date |
Closing ($) |
Daily variation |
Major events |
|
Aug. 6, 1990 |
26.78 |
+14.05 % |
UN Security Council’s sanctions on Iraq |
|
March 23, 1998 |
15.04 |
+13.77 % |
OPEC’s decision to cut output |
|
Jan. 7, 1991 |
26.79 |
+13.71 % |
Gulf War escalation |
|
Jan. 14, 1991 |
29.17 |
+13.63 % |
|
|
Dec. 31, 2008 |
45.59 |
+13.55 % |
OPEC’s decision to cut output |
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