USOIL - About to jump as production halves (Saudi attacks)
The kingdom's oil production has dropped by 5.7 million barrels a day, or 5% of daily world supply after Saturday's drone strikes on two processing facilities. As Riyadh and Washington point the finger at Tehran, the price of oil is set to rise. The financial channel CNBC cited several energy analysts as saying that oil prices could immediately spike by $5-$10 when markets reopen on Sunday night (US time), while other commentators predicted $100 (€90) a barrel oil . At the moment oil is sitting on an uptrend. We are expecting bounce from right there.