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Business

AFP
September 17, 2019

Price for North Sea Brent crude oil posts record 14.6% gain

Business

AFP
Tue, Sep 17, 2019

NEW YORK: Prices for North Sea Brent crude oil on Monday took their biggest one-day jump ever as markets reacted to a devastating drone attack on Saudi oil production.

In London, Brent benchmark crude for November delivery rocketed 14.6 percent higher, adding $8.80 to settle at $69.02 per barrel -- the largest increase since trading in the contract began in 1988, according to Bloomberg.

Meanwhile in New York, West Texas Intermediate likewise jumped 14 percent to $62.90, the biggest increase in more than a decade.

The weekend drone attack on Saudi petroleum facilities knocked about five percent of global capacity offline, rattling markets.