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Saudi attack oil extends losses after saudi arabia to restore output by end-september

Brent crude oil futures fell 36 cents, or 0.6 percent, to $64.19 a barrel, after tumbling 6.5 per cent the previous session.

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Saudi attack oil extends losses after saudi arabia to restore output by end-september

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  1. Saudi Attack: Oil extends losses after Saudi Arabia to restore output by end-September Brent crude oil futures fell 36 cents, or 0.6 per cent, to $64.19 a barrel, after tumbling 6.5 per cent the previous session.

  2. MARKET NEWS from the previous session on Wednesday, after Saudi Arabia's energy minister said the Kingdom will restore lost oil production by the end of the month. » Oil prices extended their losses Brent crude oil futures fell 36 cents, or 0.6 per cent, to $64.19 a barrel by 0005 GMT, after tumbling 6.5 per cent the previous session. US West Texas Intermediate (WTI) crude futures fell 43 cents, or 0.7 per cent, to $58.91 a barrel, after sinking by 5.7 per cent on Tuesday. "In view of the vulnerability of Saudi's supply chain and the likelihood that such attacks could be repeated in the future, we expect the market to reprice the geopolitical risk premium in oil," BNP Paribas' Harry Tchilinguirian said in a note. Still, risks to oil prices remained after a US official said that Washington believes the attacks originated in southwestern Iran. Watch Full Story Here → Saudi Attack

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