And we meet the 97 year old former Fighter Pilot taking to the skies to mark battle of britain day. Good morning. Its 8am in singapore, and 1am in london. Oil prices have soared at the opening of the markets in asia following saturdays drone attacks on two Key Facilities in saudi arabia. The cost of brent crude rose by the most on record, after half the kingdoms output was taken out that accounts for roughly 5 of the worlds oil supply. Iran has dismissed us allegations that it was behind the strikes and accused washington of being deceitful. With me is bob mcnally, president of Rapidan Energy group in washington. He served in the Bush Administration as its top energy advisor. Hejoins me now. Thank you so much forjoining us. Firstly, the us says that this was an unprecedented attack and indeed there has been a very significant market movement. How significant is this, in your view . Well, it is justified. Crude oil now in asia is trading 10 or more. That is justified. The folks who atta
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
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