# Supply, demand and 'geopolitical tensions': How oil prices rise  - ABC News

> An explainer on how oil prices respond to supply, demand and geopolitical events, using Monday's spike as the example. Global oil prices rose about 20% intraday after an attack on a major Saudi facility, which cut millions of barrels of daily production. Consumption is around 100 million barrels per day.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: market · region Saudi Arabia · magnitude low
- Page: https://feedsoft.ai/events/5710-supply-demand-and-geopolitical-tensions-how-oil-prices-rise-abc-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The article gives background on why a supply shock to Saudi output moves global crude prices quickly. For feed buyers it reinforces that energy input costs can swing sharply on geopolitical events.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- abcnews.com: https://abcnews.com/Business/supply-demand-geopolitical-tensions-oil-prices-rise/story?id=65640000

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