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Sept. 15, 2019, 6:21 p.m. EDT

Crude prices spike after attack on Saudi oil facilities

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By Mike Murphy

Brent crude prices shot up late Sunday following Saturday's attack on Saudi Arabian oil facilities. November Brent crude was last up more than $7 a barrel, or 12%, to $67.41, after initially spiking as much as 18%. The attacks shut down about half of Saudi oil production, and while the kingdom said that it expects to have aboutone-third of that back online by Monday, experts said it could take weeks to get back to full capacity. Prominent crude-oil strategist Phil Flynn at Price Futures Group told MarketWatch earlier on Sunday that the drone strike was a "big deal" that could result in a major spike in crude-oil prices, because of the potential disruption to global supplies.

Read the full story:
Crude prices soar, U.S. stock futures slip after attacks on Saudi oil facilities

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