Over the weekend an attack took place on a Saudi Arabian oil facility removing around 5% of global supplies which has seen oil post its biggest ever intraday jump to more than $71 a barrel, Bloomberg reports. The attack, which the US has blamed on Iran, marks for oil markets, the single worst sudden disruption ever, says Bloomberg analysts Serene Cheong and Dan Murtaugh. The report continues, that while Saudi Arabia may be able to return some supply within days, the attacks highlight the vulnerability of the world’s most important exporter. They also add further political risk to prices, raising the spectre of
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