Oil prices spiked to their highest value in four months due to a drone. There were no casualties, but this cut out 5% of the entire world's oil supply. Brent crude jumped 19% to $71.95 a barrel, and West Texas Intermediate rose to 63.34-- a 15% increase. It hit the worlds biggest petroleum processing facility. It looks like the situation is in its early stages. Accusations from the US are steering towards Tehran, but Iran could also be a possible culprit since they've carried out other oil attacks, or so the U.S claims. No matter what, this is a huge hit to the world economy. Gas prices everywhere have most likely soared. We have tapped into our reserve and Saudi Arabia is believed to follow. Once we have confirmation on who was behind this, I would back Trump on his "locked and loaded" statement and be ready to unload. This type of attack cannot be met lightly. The world economy is highly dependent on oil. Whoever is behind this needs to be met with fire and fury so that an attack like this cannot happen again.
Michael Pollack
https://www.bbc.com/news/business-49710820
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