# Oil surges as Saudi attack focuses market on supply risks

> Brent futures rose as much as 19.5% intraday to $71.95 a barrel, the largest intraday gain since the 1991 Gulf War. WTI rose as much as 15.5% intraday after an attack on Saudi Aramco's Abqaiq and Khurais facilities cut output by 5.7 million barrels per day. Aramco has not set a timeline for full output, with a source saying recovery could take weeks.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: geopolitics · region Saudi Arabia · magnitude high
- Page: https://feedsoft.ai/events/5707-oil-surges-as-saudi-attack-focuses-market-on-supply-risks
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A multi-week outage of about 5.7 million barrels per day tightens global crude supply and keeps energy prices elevated. Higher diesel and energy costs squeeze feed milling and transport margins.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-09-16 | 1 | +11.7% | 4.6 | Details the 5.7 mb/d supply loss at Abqaiq and Khurais and the uncertain recovery timeline (weeks), which drove the supply-risk premium. |
| BRENT | 2019-09-15 | 1 | +7.1% | 4.6 | Reports the record intraday Brent gain on the Saudi outage, with no timeline for recovery. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-19 | [Oil prices rise as Saudi supply risks come into focus](https://feedsoft.ai/events/57239-oil-prices-rise-as-saudi-supply-risks-come-into-focus.md) | -2.4% | -7.2% |
| BRENT | 2019-09-16 | [Oil prices jump as attack on Saudi plant jolts supply \| AP News](https://feedsoft.ai/events/5706-oil-prices-jump-as-attack-on-saudi-plant-jolts-supply-ap-news.md) | +6.6% | -0.3% |
| BRENT | 2019-08-19 | [Oil rises as markets factor in latest attack on Saudi energy facility \| The National](https://feedsoft.ai/events/57774-oil-rises-as-markets-factor-in-latest-attack-on-saudi-energy-facility-the.md) | +0.3% | +3.3% |
| BRENT | 2020-04-02 | [Oil surges on Trump claim of major Saudi-Russia oil supply deal](https://feedsoft.ai/events/5491-oil-surges-on-trump-claim-of-major-saudi-russia-oil-supply-deal.md) | +49.5% | +11.2% |
| BRENT | 2026-10-02 | [Oil rises slightly as market weighs mixed supply signals \| Reuters](https://feedsoft.ai/events/9316-oil-rises-slightly-as-market-weighs-mixed-supply-signals-reuters.md) | +7.5% | +9.7% |
| WTI | 2019-09-19 | [Oil prices rise as Saudi supply risks come into focus](https://feedsoft.ai/events/57239-oil-prices-rise-as-saudi-supply-risks-come-into-focus.md) | -3.0% | -8.2% |
| WTI | 2019-09-16 | [Oil prices jump as attack on Saudi plant jolts supply \| AP News](https://feedsoft.ai/events/5706-oil-prices-jump-as-attack-on-saudi-plant-jolts-supply-ap-news.md) | +5.8% | -0.1% |
| WTI | 2019-08-19 | [Oil rises as markets factor in latest attack on Saudi energy facility \| The National](https://feedsoft.ai/events/57774-oil-rises-as-markets-factor-in-latest-attack-on-saudi-energy-facility-the.md) | -1.3% | -0.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/09/16/oil-markets-saudi-oil-plant-attacks-in-focus.html

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