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Seven days: 20 September 2019

Seven days: 20 September 2019

Crude rally

Brent crude futures recorded their biggest one-day spike on record, after a weekend drone strike on a Saudi Aramco refinery took out half of the crude oil supplies for the world’s largest oil exporter, equivalent to 5 per cent of the global daily total. Responsibility for the attack was claimed by Houthi rebels in Yemen, while the White House blamed Iran for the strikes, something the Iranian foreign ministry has denied. US secretary of state Mike Pompeo tweeted: “Amid all the calls for de-escalation, Iran has now launched an unprecedented attack on the world’s energy supply. There is no evidence the attacks came from Yemen.”

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