# Biggest oil price surge since 1991 as "locked and loaded" US points finger at Iran for attack

> An attack on Saudi Arabia shut about 5% of global crude output, producing the largest oil price surge since 1991. U.S. officials blamed Iran, and President Trump said Washington was locked and loaded to retaliate.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/5705-biggest-oil-price-surge-since-1991-as-locked-and-loaded-us-points-finger-at
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The supply shock and the risk of a wider Gulf conflict put a sharp risk premium on crude. Higher energy prices raise the cost of fuel, fertilizer and transport for feed production.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-09-16 | 1 | +11.7% | 4.6 | Combines the supply loss with US blame on Iran and retaliation threats, adding geopolitical escalation risk to prices. |
| BRENT | 2019-09-15 | 1 | +7.1% | 4.6 | US blame on Iran and retaliation talk added a geopolitical risk premium. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-06-20 | [Oil prices surge after Iran shoots down US drone \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera.md) | +7.0% | +2.1% |
| BRENT | 2024-10-07 | [Crude oil price today: Oil jumps as market waits for Israel attack on Iran](https://feedsoft.ai/events/10028-crude-oil-price-today-oil-jumps-as-market-waits-for-israel-attack-on-iran.md) | +1.2% | -6.8% |
| BRENT | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -3.2% | -7.8% |
| BRENT | 2024-04-16 | [Oil prices hold firm as U.S. weighs added sanctions on Iran oil exports after attack on Israel](https://feedsoft.ai/events/30933-oil-prices-hold-firm-as-u-s-weighs-added-sanctions-on-iran-oil-exports-after.md) | -3.7% | -8.0% |
| BRENT | 2026-03-08 | [Oil prices surge 20% as expanding US-Israeli war with Iran cuts supplies from Mideast - CNA](https://feedsoft.ai/events/6784-oil-prices-surge-20-as-expanding-us-israeli-war-with-iran-cuts-supplies-from.md) | +9.5% | +25.6% |
| WTI | 2019-06-20 | [Oil prices surge after Iran shoots down US drone \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera.md) | +10.2% | +2.6% |
| WTI | 2024-10-07 | [Crude oil price today: Oil jumps as market waits for Israel attack on Iran](https://feedsoft.ai/events/10028-crude-oil-price-today-oil-jumps-as-market-waits-for-israel-attack-on-iran.md) | +1.6% | -6.7% |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |

## Sources

- reuters.com: https://www.reuters.com/article/saudi-aramco/biggest-oil-price-surge-since-1991-as-locked-and-loaded-us-points-finger-at-iran-for-attack-idUSL5N2671HG/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.