Citi on the attack on Saudi oil production over the weekend, sy the market has been mispricing oil.
- No matter whether it takes Saudi Arabia five days or a lot longer to get oil back into production, there is but one rational takeaway from this weekend's drone attacks on the Kingdom's infrastructure
- -- that infrastructure is highly vulnerable to attack, and the market has been persistently mispricing oil
Huh. Right now there are numerous pronouncements being made, gotta say I dunno about the 'persistent mispricing' TBH.
Anyway, ICYMi:
- Drone attacks cut as much as 5mbpd of Saudi oil production
- It could be 'weeks' before Saudi oil production returns to full capacity
- Goldman Sachs oil price forecasts after the Saudi attack
- Platts on the oil price impact of the Saudi attack
- CAD, yen both higher in thin Monday opening forex markets
- Images released of the extensive damage to Saudi production facilities
- Can Saudi Arabia restore almost half the oil production within just days?
- UBS on oil after the attack on Saudi production facilities
- Is a US SPR oil release imminent? No, say analysts
- Here we go - Trump says will authorise SPR oil release if needed
- Oil prices surge as futures trade commences for the week, Stock index futures open lower.
- More on those Goldman Sachs oil price forecasts after the Saudi attack
After the enormous gap higher oil prices have subsided a bit. Stull up huge on the session though.
ps. Never mind that huge green candle, it should be a gap not a continuous candle. But, you get the idea
