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BRKG Saudi oil facilities on fire
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  1. #161
    Quote Originally Posted by danielboon View Post
    I'm going out on a limb here I don't think this will totally explode yet. A deal is coming. Next week will be interesting
    Yeah, with the loan being floating, and the election troubles Bibis facing, it rather feels like some high stakes poker game. Unfortunately, time always tells.
    Thoughts are things. Thus I'm careful of the thoughts I think, & the company I keep.
    She couldn't keep her colors inside the lines, so she drew new lines.

  2. #162
    Heshmat Alavi
    @HeshmatAlavi
    ·
    2h
    US weighing the possibility of declassifying satellite images to strengthen the case of Iran being behind the recent attack on Saudi oil facilities.
    Growing evidence points to cruise missiles fired from #Iran or Iraq, not Houthi drones launched from Yemen
    .
    https://wsj.com/articles/iran-
    Thoughts are things. Thus I'm careful of the thoughts I think, & the company I keep.
    She couldn't keep her colors inside the lines, so she drew new lines.

  3. #163
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    Quote Originally Posted by danielboon View Post
    ELINT News Retweeted
    Hamdi
    @HamdiAlkhshali
    Following the attack on a Saudi Arabia oil facility, an attack on a scale the energy sector has not witnessed before, regional sources tell CNN #Saudi #Aramco has about 200 million barrels of oil in storage.
    1:42 PM · Sep 15, 2019·
    So, enough for global usage of less than a week?
    Deo adjuvante non timendum - With God Helping, Nothing is to be Feared
    "You are like a pit-bull..." - Dennis Olson
    "No man knows but that the last backward glance over his shoulder may be his last look, forever." - Ernie Pyle Born: 1900 KIA: 1945 Shima, Okinawa

  4. #164
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    I thought China was buying a substantial portion of Saudi Aramco to bolster its gold backed exchange for oil.

    The US touts its domestic oil production capacity, but I understand that the majority of fracking operators are operating in the red. A rise in domestic oil prices may assist in that problem.
    "During times of universal deceit, telling the truth becomes a revolutionary act." George Orwell

  5. #165
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    No change in the price of gas here. I just stopped in town, and it's still 2.45/gal. Tells me the market isn't too worried. Yet.

  6. #166
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    This might not be a lull.
    SS

    'ELINT News Retweeted
    Hamdi
    @HamdiAlkhshali
    ·
    2h
    Flowing attacks on #Saudi #Aramco facilities, #Kuwait PM said: a probe has been launched after a drone was detected flying on the outskirts of Kuwait City and proper security precautions will be taken in response, state news.'

    https://twitter.com/elintnews?lang=en
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  7. #167
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    Quote Originally Posted by WalknTrot View Post
    No change in the price of gas here. I just stopped in town, and it's still 2.45/gal. Tells me the market isn't too worried. Yet.
    Oil markets open in 40 minutes for the first time since the attack. I doubt we will see a big jump until SA stiles back

  8. #168
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    Gregor Peter
    ‏@L0gg0l
    56 minutes ago

    More
    VICE-PRESIDENT PENCE SPOTTED ARRIVING AT WHITE HOUSE FOR UNSCHEDULED MEETING -- POOL REPORTERS
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  9. #169
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    Looks like drone launched anti-tank rocket damage to me?

    Especially Image #2.
    -----------------
    Aurora Intel
    @AuroraIntel
    1 hour ago

    Trump administration have declassified photos of the #Saudi #Aramco #Abqaiq strikes.
    Attached Images
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  10. #170
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    PENCE, ESPER LEAVE WHITE HOUSE AFTER NSC MEETING ON SAUDI-IRAN SITUATION -- POOL REPORTERS

    https://twitter.com/l0gg0l/status/11...780883456?s=21

    Quote Originally Posted by Red Baron View Post
    Gregor Peter
    ‏@L0gg0l
    56 minutes ago

    More
    VICE-PRESIDENT PENCE SPOTTED ARRIVING AT WHITE HOUSE FOR UNSCHEDULED MEETING -- POOL REPORTERS

  11. #171
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    Live now.

    Agenda-Free TV

    Started streaming 90 minutes ago

    New Details of Saudi Arabia Oil Attacks - LIVE UPDATE



    https://www.youtube.com/watch?v=mG8_83pTWko
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  12. #172
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    Aurora Intel
    ‏@AuroraIntel

    More
    The comment of “why didn’t the #US Patriot (PAC2/3) System stop the attack” has gone out the window with this one. The accuracy on this is incredible.

    1:25 PM - 15 Sep 2019
    --------
    Aurora Intel
    ‏@AuroraIntel
    1 hour ago

    More
    According to reports #US officials have said “additional devices, which apparently didn’t reach their targets, were recovered northwest of the facilities are being jointly analyzed by #Saudi and American intelligence”
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  13. #173
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    Brent oil up 19% in the first minute of trading

  14. #174
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  15. #175
    EndGameWW3 Retweeted
    Javier Blas
    @JavierBlas
    BREAKING:

    ⬆️ Brent crude up $10.94 (or 18%) to $71.16 a barrel as market opens in the wake of the Saudi attacks

    #OOTT #SaudiArabia #oil
    6:04 PM · Sep 15, 2019 from South East, England·Twitter
    ·

  16. #176
    EndGameWW3 Retweeted
    Al Arabiya English
    @AlArabiya_Eng
    US President Donald Trump authorizes release of oil from the US strategic petroleum reserve if needed in an amount to be determined, he says in a tweet.

    https://english.alarabiya.net/en/bus...m-reserve.html
    6:11 PM · Sep 15, 2019·

  17. #177
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    What I find interesting is John Bolton is fired on the 10th and 3 days later.....BOOM! Coincidence?
    My Message to the Fake Stream Media......
    https://www.youtube.com/watch?v=FhSy-6VqIww

  18. #178
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    For links see article source.....
    Posted for fair use.....
    https://www.debka.com/us-intel-suspe...rom-iraq-base/


    https://s3-us-west-2.amazonaws.com/d...C-14.9.191.jpg

    US intel suspects Iranian cruise missiles hit Saudi oil facilities from Iraq base

    Sep 15, 2019 @ 21:05

    US intelligence experts are studying satellite images and other video evidence to track the source in Iraq of the major attack on key Saudi oil facilities on Saturday, Sept. 14. Their first discovery was that cruise missiles rather than drones struck the Saudi oil refineries at Abqaiq, the largest in the world, and its second largest oil field at Khurais – both in the kingdom’s Eastern Provinces. They have also confirmed that the missiles were launched from a pro-Iranian Iraqi Shiite militia base, despite Baghdad’s denials.

    DEBKAfile’s military and intelligence sources report that the investigation is also using video coverage by local Saudis showing multiple cruise missiles coming from the north and heading across the border towards the targeted locations in eastern Saudi Arabia. On one, a missile was clearly shown flying over the main border crossing at Hafar al-Batin and shot down by a Saudi air defense missile, although Saudi officials, in reporting the attack – large and disruptive enough to reduce the kingdom’s oil production by five million barrels a day, nearly half its output – have said nothing about intercepting any offensive projectiles. The two images carried at the top of this item show the wreckage of Iranian cruise missiles shot down near the Abqaiq processing plant.

    The attack represented a major spike in Iranian aggression against Saudi Arabia. Its import is shattering enough strategically to challenges Washington and Riyadh for a response in kind, namely a strike at Iran’s oil processing plants. The US and Saudi Arabia both possess the military resources for a comparable reprisal against Iran and will find it hard to evade this challenge.

    Republican Senator Lindsey Graham, a valued adviser to President Donald Trump, Sunday urged the White House to consider hitting Iran back for its devastating attacks on Saudi Arabia’s oil industry. “Hitting Iran’s own refineries would break the regime’s back,” he said and warned that Iran would not stop its “provocations” until it was forced to face the consequences.

    According to our sources, the Trump administration can hold back for no more than a few days to release the results of its investigations into the attack on Saudi oil infrastructure. Washington will face heavy pressure to go public with those findings – not least, because the Iranian attack was likely just the first of a new wave of aggression against Gulf oil targets and other US allies, including Israel.

    With this in mind, Maj. Gen. Aharon Haliva, OC Operations Directorate, commented on Sunday: “We are facing a complex reality of the kind we have not known for many years. The next confrontation may erupt any day.”

    40 thoughts on “US intel suspects Iranian cruise missiles hit Saudi oil facilities from Iraq base”


    -------


    https://www.voltairenet.org/local/ca...5115-0b1eb.jpg


    https://sites.breakingmedia.com/uplo...le-768x531.jpg


    https://i.dawn.com/primary/2019/02/5c564ae22ee64.jpg
    Last edited by Housecarl; 09-15-2019 at 05:58 PM.

  19. #179
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    I am having a hard time with the cruise missile story. Our navy in the gulf would have had evidence of a cruise missiles launch. Not mentioning that SA has its own radar systems. The fact they are having to find evidence on-site of missiles is a real stretch

  20. #180
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    Donald Trump

    Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!

    https://twitter.com/realdonaldtrump/...381962752?s=21

  21. #181
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    Quote Originally Posted by Warm Wisconsin View Post
    I am having a hard time with the cruise missile story. Our navy in the gulf would have had evidence of a cruise missiles launch. Not mentioning that SA has its own radar systems. The fact they are having to find evidence on-site of missiles is a real stretch
    These things don't have to climb to above the ground clutter when launched...

  22. #182
    Quote Originally Posted by northern watch View Post
    If the United States releases oil from its Strategic Petroleum Oil Reserves, then that tells me the damage done to KSA will take a while to repair.

    NW
    One source said possibly 6 months.
    https://safeg.net/home A Safe Alternative to Harmful 5G Wireless

    Mark 16:17 And these signs shall follow them that believe; In my name shall they cast out devils; they shall speak with new tongues; 18 They shall take up serpents; and if they drink any deadly thing, it shall not hurt them; they shall lay hands on the sick, and they shall recover.

  23. #183
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    Quote Originally Posted by Buick Electra View Post
    What I find interesting is John Bolton is fired on the 10th and 3 days later.....BOOM! Coincidence?
    I had the same thought today. Makes you wonder who is pulling the strings.

  24. #184
    Quote Originally Posted by Warm Wisconsin View Post
    I am having a hard time with the cruise missile story. Our navy in the gulf would have had evidence of a cruise missiles launch. Not mentioning that SA has its own radar systems. The fact they are having to find evidence on-site of missiles is a real stretch

    Aleph ��️ א ����
    @no_itsmyturn

    Unconfirmed,
    A Kuwaiti man was hunting last night, he was taking a video and all of a sudden heard a weird sound (like a missile passing through)
    If the case is true, a missile could be launched from #Iraq (possibly Basra) towards #Buqayq - #Abqaiq

    https://twitter.com/no_itsmyturn/sta...08877689245697 Recording on Twitter

  25. #185
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    WTI oil is only $6 a barrel less than the 2019 high now. The high was $66 a barrel or 10% higher than now.

  26. #186
    Um, that "soumar" is a clone of a Russian AS-15 Kent cruise missile. 2000 to 3000km range, NUCLEAR CAPABLE.....
    Uses INS and apparently some form of TERCOM guidance. That would explain the accuracy of the units.
    And guess where the Iranians are rumored to have gotten copies of the Kent from. Not from Russia, nope. Wikipedia has the source as the Ukraine selling two of them to Iran. They were leftovers from the Soviets when they were in the Ukraine, the sustainer motor for them was built in the Ukraine.
    We cleaned out the nukes in the Ukraine after the Soviet Union left, but we forgot the cruise missiles....

    And do you remember the name "Soumar"? Took a minute but now I remember (Wikipedia is dead spot on on this one). Soumar was an Iranian town that got wiped out by Saddam Hussein during the Iran Iraq war.He used I think either phosgene or GB and killed everyone in the town.

    Those missile fragments are Kents-and the Iranians just officially declared war on Saudi Arabia. Sort of.
    Quote Originally Posted by Housecarl View Post
    For links see article source.....
    Posted for fair use.....
    https://www.debka.com/us-intel-suspe...rom-iraq-base/


    https://s3-us-west-2.amazonaws.com/d...C-14.9.191.jpg

    US intel suspects Iranian cruise missiles hit Saudi oil facilities from Iraq base

    Sep 15, 2019 @ 21:05

    US intelligence experts are studying satellite images and other video evidence to track the source in Iraq of the major attack on key Saudi oil facilities on Saturday, Sept. 14. Their first discovery was that cruise missiles rather than drones struck the Saudi oil refineries at Abqaiq, the largest in the world, and its second largest oil field at Khurais – both in the kingdom’s Eastern Provinces. They have also confirmed that the missiles were launched from a pro-Iranian Iraqi Shiite militia base, despite Baghdad’s denials.

    DEBKAfile’s military and intelligence sources report that the investigation is also using video coverage by local Saudis showing multiple cruise missiles coming from the north and heading across the border towards the targeted locations in eastern Saudi Arabia. On one, a missile was clearly shown flying over the main border crossing at Hafar al-Batin and shot down by a Saudi air defense missile, although Saudi officials, in reporting the attack – large and disruptive enough to reduce the kingdom’s oil production by five million barrels a day, nearly half its output – have said nothing about intercepting any offensive projectiles. The two images carried at the top of this item show the wreckage of Iranian cruise missiles shot down near the Abqaiq processing plant.

    The attack represented a major spike in Iranian aggression against Saudi Arabia. Its import is shattering enough strategically to challenges Washington and Riyadh for a response in kind, namely a strike at Iran’s oil processing plants. The US and Saudi Arabia both possess the military resources for a comparable reprisal against Iran and will find it hard to evade this challenge.

    Republican Senator Lindsey Graham, a valued adviser to President Donald Trump, Sunday urged the White House to consider hitting Iran back for its devastating attacks on Saudi Arabia’s oil industry. “Hitting Iran’s own refineries would break the regime’s back,” he said and warned that Iran would not stop its “provocations” until it was forced to face the consequences.

    According to our sources, the Trump administration can hold back for no more than a few days to release the results of its investigations into the attack on Saudi oil infrastructure. Washington will face heavy pressure to go public with those findings – not least, because the Iranian attack was likely just the first of a new wave of aggression against Gulf oil targets and other US allies, including Israel.

    With this in mind, Maj. Gen. Aharon Haliva, OC Operations Directorate, commented on Sunday: “We are facing a complex reality of the kind we have not known for many years. The next confrontation may erupt any day.”

    40 thoughts on “US intel suspects Iranian cruise missiles hit Saudi oil facilities from Iraq base”


    -------


    https://www.voltairenet.org/local/ca...5115-0b1eb.jpg


    https://sites.breakingmedia.com/uplo...le-768x531.jpg


    https://i.dawn.com/primary/2019/02/5c564ae22ee64.jpg

  27. #187
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    Strap on your hernia belts,

    "Locked and Loaded"
    Attached Images
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  28. #188
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    Quote Originally Posted by seagull View Post
    I had the same thought today. Makes you wonder who is pulling the strings.
    The Deep State wants WAR. They have ALWAYS wanted war and we've never stopped since Vietnam. They're not happy Trump wants peace. Bolton has always loved war. War brings the deep state money and lots of kidnapped children to sell. The deep state is not happy with Trump.


    Also, the FISA report is due to be released very soon. The deep state needs a distraction. I would call this a very big distraction, wouldn't you?
    My Message to the Fake Stream Media......
    https://www.youtube.com/watch?v=FhSy-6VqIww

  29. #189
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    Quote Originally Posted by Red Baron View Post
    Strap on your hernia belts,

    "Locked and Loaded"


    I'll go with Obama or Jarrett for $300 Alex.
    My Message to the Fake Stream Media......
    https://www.youtube.com/watch?v=FhSy-6VqIww

  30. #190
    Join Date
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    What is Qassem Soleimani doing these days? He is known for throwing sneaky, effective punches.
    Firing Bolton last week was a green light for the Iranians.
    The US is isolated by weak allies, politically or military or both, with the exception of Israel and it is election time.
    SS
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  31. #191
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    Donald Trump

    Saudi Arabia should fight their own wars, which they won't, or pay us an absolute fortune to protect them and their great wealth-$ trillion!

    https://twitter.com/realdonaldtrump/...933013504?s=21


    Oops sorry that was before the election

  32. #192
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    Hajizadeh is another big player.
    SS

    '������ ���������� �������� Retweeted
    Brasco_Aad
    @Brasco_Aad
    ·
    1h
    New IRGC revelation today and the main reason why Trump backed off and sounded like a complete, irrational and incoherent imbecile afterwards.

    Brasco_Aad
    @Brasco_Aad
    · 1h
    Commander of the IRGC Aerospace Force Brigadier General Hajizadeh:''Back in July we already zeroed in our missiles at US bases in Qatar, the UAE & the US carrier fleet in the Sea of Oman & were ready to fire them if the US would have attacked us after we took down their drone'' '

    https://twitter.com/Brasco_Aad/statu...77291348525058
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  33. #193
    Quote Originally Posted by Warm Wisconsin View Post
    Donald Trump

    Saudi Arabia should fight their own wars, which they won't, or pay us an absolute fortune to protect them and their great wealth-$ trillion!

    https://twitter.com/realdonaldtrump/...933013504?s=21


    Oops sorry that was before the election
    Yes, from August 2014.
    https://safeg.net/home A Safe Alternative to Harmful 5G Wireless

    Mark 16:17 And these signs shall follow them that believe; In my name shall they cast out devils; they shall speak with new tongues; 18 They shall take up serpents; and if they drink any deadly thing, it shall not hurt them; they shall lay hands on the sick, and they shall recover.

  34. #194
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    I’m sorry BE, but I think your tinfoil is on too tight. You think that the Deep State here is conspiring with the Iranians? Tinfoil hell, I think you might need your meds adjusted. I’ll tell you what all this is about. Trump’s actions against Iran are strangling them, and their increasing bellicosity is to demonstrate that we’d better knock it off. They’re threatening regional war (at the very least) if we don’t give them their way.

  35. #195
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    Prices softening a bit.
    ----------------------
    David Ingles
    ‏Verified account
    @DavidInglesTV
    38 minutes ago


    More
    "Oil's way down from session-highs.. we're currently trading about 12% higher right now."
    "The most intriguing point for the historian is that where history and legend meet."

    "None are more hopelessly enslaved than those who think they are free."

    Johann Wolfgang von Goethe


  36. #196
    Exactly. An Iranian version of our Linebacker 2 missions over North Vietnam. The endgame there was to force the North Vietnamese back to the negotiation table. The endgame here is getting the sanctions off Iran's back. It worked then but won't work now. Iran is starving and their economy is expected to contract by 12% to 14% GDP this year alone.

    And President Trump and SECSTATE Pompeo are both on the same page this time-neither will back down.

    Quote Originally Posted by Dennis Olson View Post
    I’m sorry BE, but I think your tinfoil is on too tight. You think that the Deep State here is conspiring with the Iranians? Tinfoil hell, I think you might need your meds adjusted. I’ll tell you what all this is about. Trump’s actions against Iran are strangling them, and their increasing bellicosity is to demonstrate that we’d better knock it off. They’re threatening regional war (at the very least) if we don’t give them their way.

  37. #197
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    Quote Originally Posted by Warm Wisconsin View Post
    Donald Trump

    Saudi Arabia should fight their own wars, which they won't, or pay us an absolute fortune to protect them and their great wealth-$ trillion!

    https://twitter.com/realdonaldtrump/...933013504?s=21


    Oops sorry that was before the election
    As I've noted before, if the Saudis were that competent and still had their "proclivities" then they'd be "the problem". That they've been resorting to Sudanese Janjaweed sourced mercenaries and still can't make any headway on the ground in Yemen is telling.

  38. #198
    This is why I converted my Truck to run E85, I can run pure alcohol if I have to.

  39. #199
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    The fools running my home state, Washington, have tied our fortunes to a sinking ship.
    SS


    'Saudi attacks threaten U.S. gasoline price hikes, particularly in California

    Devika Krishna Kumar



    NEW YORK (Reuters) - U.S. motorists most likely to feel the hit from rising gas prices following the attacks on Saudi Arabia’s oil facilities are on the West Coast, which accounts for nearly half of all of U.S. crude imports from the kingdom.

    The attacks on Saudi Arabia’s oil facilities on Saturday knocked out more than 5% of global oil supply and sent oil prices surging as much as 20%.

    U.S. pump prices are likely to rise in coming days as gasoline futures spiked by more than 10% on Sunday trading, analysts said. The national average price of regular gasoline was currently $2.57 per gallon, according to AAA.

    However, California motorists, some 8,000 miles (13,000 km) away from Saudi Arabia, could be hit the hardest. Refineries in that state rely heavily on imports for supplies due to its isolated location and lack of pipelines to connect it with oil-rich states such as Texas.

    Saudi Arabia exports more than 7 million barrels of crude oil every day, much of that to Asia, but about 47% of what it sends to the United States goes to the West Coast.

    For the 12 months ended in June, the U.S. West Coast imported an average of 11.40 million barrels every month of Saudi crude, much of it going to a number of refineries based in California, according to the U.S. Energy Information Administration.

    “I absolutely think it’s likely that the West Coast will see more of a pricing impact than other regions since they’re more tied to Saudi imports,” said Patrick DeHaan, head of petroleum analysis at tracking firm GasBuddy.

    Saudi Arabia accounted for about 37 percent of California’s total foreign oil imports in 2018, according to the California Energy Commission.

    “Saudi Arabia has always sought to portray itself as a reliable supplier of crude to the market and for this reason we think they will opt to supply the export market for crude first then products,” said Robert Campbell, head of oil products research at Energy Aspects.

    The state currently has the second-highest average gasoline prices in the United States at $3.63 per regular gallon of gas, trailing only Hawaii. Fuel prices in California are typically higher due to tight regulations and differing gasoline specifications.

    Among the biggest buyers of Saudi Arabian crude are Chevron Corp’s (CVX.N) 245,000-barrel-per-day (bpd) refinery in Richmond, California, and the 269,000-bpd El Segundo refinery in California. The West Coast, known as oil region PADD 5, includes Washington State, which has also taken in barrels from Saudi Arabia in the last year.

    A Chevron spokesman told Reuters the company sources crude from “multiple global suppliers,” and it will “take the necessary actions to continue to meet the needs of the marketplace.”

    The United States has more than 640 million barrels of oil in reserve that could offset tighter supply as a result of the Saudi attacks. U.S. President Donald Trump said on Sunday he authorized the release of oil from the U.S. Strategic Petroleum Reserve (SPR) if needed in a quantity to be determined.

    “I don’t yet think any area will see ‘spikes’ because of the attacks, but it certainly could become that if Saudi Arabia production doesn’t return to 90% of normal very quickly,” DeHaan said.

    https://www.reuters.com/article/us-s...siness+News%29
    “Then the creatures of the high air answered to the battle, .., and the woods trembled and the wind sobbed telling them, the earth shook,; the witches of the valley, and the wolves of the forests, howled from every quarter and on every side of the armies, urging them against one another.”
    ― Lady Gregory, Gods and Fighting Men: The Story of the Tuatha De Danaan and the Fianna of Ireland

  40. #200
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    For links see article source.....
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    https://www.barrons.com/articles/sau...ts-51568551934


    The Dow Is Falling and Oil Is Spiking After Saudi Arabia Was Attacked

    By Ben Levisohn
    Updated Sept. 15, 2019 8:42 pm ET / Original Sept. 15, 2019 8:52 am ET

    A major Saudi Arabian oil field was attacked on Saturday, and it’s safe to say that no one saw this coming. Oil futures are up more than 10%, and the Dow Jones Industrial Average is set to drop.

    Here’s what we know. On Saturday, Saudi Arabia’s Abqaiq facility and the Khurais oil field were attacked. The oil field produces about 1.5 million barrels of crude a day, while the facility processes more than 7 million barrels, according to RBC’s Helima Croft. She estimates that some 5 million barrels of oil exports won’t be happening in the near term, though Saudi officials say that exports will resume in a few days.

    The bigger problem is what this means for the region. Houthi rebels claimed responsibility for the attack—they supposedly used drones—and if true, “the attacks marked the most effective and far-reaching drone strikes carried out by outgunned Houthi forces in neighboring Yemen,” as The Wall Street Journal described it. The U.S. has already said that there is no evidence of the attacks emanating from Yemen, and raised the possibility of the attack having come from Iran or Iraq. Iran denied involvement.

    Either way it’s a big deal. “Saturday’s twin drone attacks mark the most dramatic escalation in the ongoing Iran standoff and have put the region more squarely on the path to a military conflict,” Croft writes.

    \Oil prices have been stuck in a range recently, with WTI Crude, the U.S. benchmark, trading between $50 and $60. No more. WTI crude futures have gained 11% to $60.83, and that trading range looks like it has been broken. Dow Jones Industrial Average futures have declined 96 points, or 0.4%, while S&P 500 futures have fallen 0.4%, and Nasdaq Composite futures have dropped 0.6%.

    Saudi Arabia has been preparing for a second crack at an initial public offering of Saudi Aramco, and it’s safe to say that the attacks could lower the valuation it might be able to get, if the IPO isn’t derailed completely.

    Write to Ben Levisohn at Ben.Levisohn@barrons.com

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