Brent oil price briefly surged 18% to US$71 per barrel.

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Viva Budy Kusnandar 16/09/2019 17:00 WIB

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An attack on Saudi Arabian oil facilities by Houthi rebel drones triggered a surge in global crude oil prices to US$71 per barrel.

Brent and WTI Crude Oil Prices (August 1 - September 16, 2019)

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Brent oil price briefly surged 18% to US$71 per barrel.

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Brent and WTI Crude Oil Prices (August 1 - September 16, 2019)

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A drone attack on an oil refinery in Saudi Arabia by Houthi rebels triggered a surge in global crude oil prices at the opening of Asian markets on Monday (September 16, 2019). Brent crude oil futures for the next month jumped 18.85% to US$71.57 per barrel. Similarly, WTI crude oil surged 14.71% to US$62.92 per barrel.

The attack on Saudi Arabia's oil processing facilities in Abqaiq and Khurais on Saturday (September 14, 2019) is expected to reduce global oil supply by more than 5%. This is because these two facilities are the largest in the world.

By 4:30 PM WIB, WTI crude oil was trading at US$59.47 per barrel, while Brent crude was trading at US$65.91 per barrel.

Editor : Hari Widowati

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."