Oil Surges Most in Decades After Attack on Heart of Saudi Oil Industry

By Laila Kearney NEW YORK, Sept 16 (Reuters) - Oil ended nearly 15% higher on Monday, with Brent logging its biggest jump in over 30 years and a record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom's production in half and intensified concerns of retaliation in the Middle East. Brent crude futures settled at $69.02 a barrel, rising … [Read more...]

Attack on Saudi Oil Facility Hits the Oil Market’s Achilles Heel: Kemp

By John Kemp LONDON, Sept 16 (Reuters) - Oil security experts have worried for decades about the vulnerability of Saudi Arabia's Abqaiq processing complex to an attack by militants, foreign special forces or missile strikes. Oilfields make a difficult target because of the dispersed nature of the wells and associated infrastructure, but processing facilities and export … [Read more...]