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Investors on Monday digested news of the massive drone attacks on Saudi Arabian oil infrastructure at Abqaiq and Khurais. Stocks took it… pretty well, it has to be said; the Dow slid around 0.27% as an "oil shock" that would've sent indexes tumbling hundreds of points 10 or 20 years ago rippled through the broader markets.
Oil, on the other hand, is seeing virtually unprecedented volatility. Prices for crude have jumped by as much as $10 a barrel following the disruption of around half of Saudi Arabia's daily output. Prices then lurched lower yesterday when Saudi Energy Minister Prince Abdulaziz bin Salman suggested oil supply will be back online by the end of September. Whether that’s possible or not is an open question.
The top priority for investors right now is to get a handle on the “ceiling and floor” for crude prices.
About the Author
Matthew Warder is a globally recognized energy, metals, and mining expert. He has a decade of experience covering the coal, iron ore, and steel industries. Matt frequently presents at natural resources conferences around the world. Investors seek out his independent, future-looking analysis, which is a critical "one-stop shop" for those looking at opportunities in the natural resources industry.
Matt has spent more than a decade putting together the high-cost research reports that Wall Street banks, hedge funds, and deep-pocketed individual investors use to make billion-dollar investing decisions. Now you have access to that same thinking - at no cost.