Energy
 

September 21, 2019

 
 
Top news
 
Attack on Saudi oil threatens to pinch Eastern Canada supplies
  Attack on Saudi oil threatens to pinch Eastern Canada supplies
 

Brent Jang and Jeffrey Jones

Eastern Canadian refiners are scrambling to secure crude supplies as the attack on Saudi Arabian energy infrastructure reverberates through the global oil market and has already led to higher gasoline prices in many parts of Canada.

 
Drone and cruise missile strikes knocked 5.7 million barrels a day (b/d) of Saudi oil production off-line last weekend, an amount equal to more than 5 per cent of global demand. Yemen’s Houthi rebels claimed responsibility for the attack, but the U.S. and Saudi Arabia say Iran is responsible.

 
 
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Oil price update
 
Oil slips on trade fears but soars in week after Saudi production attacked
  Oil slips on trade fears but soars in week after Saudi production attacked
 

Stephanie Kelly

Oil prices eased on Friday on renewed concern over the U.S.-China trade war, but futures still posted weekly gains, with Brent marking its biggest weekly increase since January, after an attack on Saudi Arabia’s energy industry last weekend.

 
 
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