A coordinated attack on Saudi Arabia’s oil industry Saturday had a history-making impact on oil prices on Monday, sending Brent crude futures spiking by nearly 20% before contracting somewhat by the afternoon.
In what CNBC notes is the sharpest intraday spike in oil prices in history, Brent crude futures rose as much as 19.5% on Monday following the attacks on Saudi Arabia’s oil processing facility in Abqaig and the Khurais oil field on Saturday.
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