Zero Hedge: Oil Explodes 20% Higher, Biggest Jump On Record
With traders in a state of near-frenzy, with a subset of fintwit scrambling (and failing) to calculate what the limit move in oil would be (hint: there is none for Brent), moments ago brent reopened for trading in the aftermath of Saturday's attack on the "world's most important oil processing plant", and exploded some 20% higher, to a high of $71.95 from the Friday $60.22 close, its biggest jump since futures started trading in 1988.
Read more ....
Update: Oil surges, stock futures slip after attack on Saudi facility (Reuters)
WNU Editor: There are some reports that it is going to take months to repair the Saudi facilities that were struck in this drone attack .... Satellite Images Reveal It Would Take "Months" To Fix Saudi Oil Facility (ZeroHedge).
4 comments:
"There are some reports that it is going to take months to repair the Saudi facilities"
Yes, I strongly agree. This kind of attack is a justified claim of war.
If nobody react strongly we are going to the way of Munich 1938 ... again.
Decapitation is much better. Too many leaders think you have to go through most if not all of their country to get to them,m,. So they have time to come up with another strategy, capitulate and retire, or escape.
Go for them 1st and other dictators around the world will at least be worried and might capitulate.
After Iraq fell so quickly, Qadaffi struck a deal. Iraq was a 2-fer. Then Obama broke the deal.
If we decapitated the the Iranian leadership, a lot of other middling rank and smaller dictators would take notice and start negotiating honestly.
So with the Saudi refinery hit and the UAW strike - both conveniently occurring at the exact same time - we'll enjoy another ~600-700 point dump on the DJIA tomorrow. Sad Face.
If I were a cynic, I'd be conjuring up conspiracy theories... ;)
DEEP,
STATE,
BOOGALOO,
R,
Russ,
Especially when inflation is so low. Has the UAW no concept of global competiveness?
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