Sees oil prices spiking the most ever. Brent has paired its initial gains, but still up more than 10 this morning. The president says hes locked and loaded. The u. S. Point fingers at iran, donald trump sang a response depends on verification. Tehran denies. They assess a new threat to crude supply. D jumps is money flowing floods into currencies for other nations. Less than a halfhour until the start of the european open, and markets dealing with oil price move, thats reflected in futures. Futures will be weaker at the start of trade. Well be looking for reactions in the oil majors, asia stocks, the extensive hedging the various airlines have in place. All of that could be key after the aviation stocks. Lets have a look on the gmm. Weve seen the biggest ever day jump in the oil price. This is having an impact on various assets. Instead of a flight to safety, its more of a sell everything going on here. Money coming out of the markets in asia. South korea and china were closed friday.
Global oil prices have hit their highest in four months after two drone attacks on Saudi Arabian facilities on saturday. Brent crude has jumped 10 to over 66 a barrel. Aramco is the Worlds Biggest Oil producer and one of the worlds most profitable businesses. Around 5. 7 Million Barrels a day have been cut by the attacks, thats roughly half of saudi arabias oil production. Oil prices have eased back slightly after us President Donald Trump authorised the release of us reserves. Aramcos affected facilities at khurais and abqaiq produce around 8 of the worlds oil supply. Bob mcnally served in the Bush Administration as its Senior Energy advisor. Hes now president of the Rapidan Energy group in washington. He thinks there are genuine reasons to be concerned about the impact of the attack tx vt next as long as the us and saudi arabia on one side and iran on the other remain in this conflict, we will build on a risk premium. It is getting very serious. This is not simplya getting very serio
Morning. Education secretary rick perry calling it a deliberate attack on the Global Economy. Plus oxycontin maker, pharma filing for bankruptcy this morning. First up, though, a series of attacks on two of the Worlds Largest Oil Facilities in the news the u. S. Is rejecting that notion saying the scope and the precision of the attack suggests the launch was made by the houthis but, in fact, originated by iran. Iran calling the claims baseless and unacceptable guys, weve been talking all year long about what it could take to produce a true supply shock. I think theyll come back 5. 7 Million Barrels. Look theres a temporary inability to get permian oil. You can only ship so much. You have one harbor who can handle it, two others. Corpus christi not yet i guess what im saying it cant. Were pumping too much and it does remind you if we had even more pipelines, we could just turn the spigot on its not the Strategic Petroleum reserve. Its the permian. There are a lot of key questions. One,
Two tankers believed to have been attacked in the gulf of oman on the coast of iran. Dan joins us from dubai. Dan . Reporter a full scale investigation under way after this suspected sabotage attack on two tankers in the gulf of oman these pictures, youll see how severe the damage was. What these pictures show is a tanker with highly flammable products, adrift and ablaze near the strait of hamuz. This first ship is believed to be the japanese kakuka and it was moving methanol from saudi arabia to singapore. All 21 crew skaeed with just minor injuries after they abandoned ship and rescued by a nearby vessel. Second was a norwegian owned tear transporting crude products into asia. Whatever happened caused a fire to break out on board. It had to be rescued without injury we still dont know who or what caused such damage and no individual or state actor came forward to claim responsibility but what this does represent is another skirmish in the region, just as tensions between the United S
It, where people arent going to say joe who . If you feel you can do it, you should do two. It gets you to the point where you need to be you will you are revealing i can give you a hint the average real heat feel was 115. And you werent out west . No. Thats a dry heat. This is a humid is that hot a place called the golden isle you have to google it. What state . Georgia heat index 115 . Yes you can fly into jacksonville. Why people go there in august . I dont know i havdont have an answer you have time coming up . It may be a good time of year to go to georgia quite the price to pay to get a couple months off. You have some experience dow is up 53 points right now. Continuing the snap of green after what had been more diff difficult. Maybe it is joe being back s p up ten points and nasdaq by 46 stocks sliding in asia lets mention treasuries this is what is interesting. Green in equities. Look what is happening with 10 and 30 the 30 at 4. 26 there are people who are concerned about the