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Oil posts a gain as reports of attacks on Saudi production feed supply risks


Wednesday, 15 May 2019 03:03 WIB

Minyak WTIMinyak jenis Brent


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Oil futures posted a gain on Tuesday amid reports of attacks on major Saudi facilities, which helped to raise supply concerns and prompted U.S. prices to settle higher for the first time in four sessions.

The world’s top oil exporter Saudi Arabia said explosive-packed drones attacked two pumping stations belonging to state oil company Aramco, according to a report from local media and the Associated Press.

Saudi Arabia said drones attacked one of its oil pipelines as other assaults targeted energy infrastructure elsewhere in the kingdom on Tuesday, shortly after Yemen’s rebels claimed a coordinated drone attack on the Sunni power.

Global benchmark July Brent crude added $1.01, or 1.4%, to settle at $71.24 a barrel on ICE Futures Europe. Its drop on Monday snapped a three-session winning streak.

West Texas Intermediate crude for June delivery rose 74 cents, or 1.2%, to finish at $61.78 a barrel on the New York Mercantile Exchange.

Source: Marketwtch


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