# Oil prices leap as attack on Saudi facility disrupts output | AP News

> Oil prices surged on Monday after an attack on Saudi Arabia's largest oil processing plant halted output of more than 5.7 million barrels of crude a day. Prices moderated after the initial spike as traders weighed how long the disruption would last.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/6928-oil-prices-leap-as-attack-on-saudi-facility-disrupts-output-ap-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Removing about 5.7 million barrels a day from supply is a major shock that raises crude and energy input costs for feed manufacturers. The moderation suggests markets expect a shorter outage, which limits the longer-term price effect.

## 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 | Describes the surge from the 5.7 mb/d outage and the intraday moderation as traders weighed its duration. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-09-16 | [Attack On Saudi Oil Facilities Makes Oil Prices Spike : NPR](https://feedsoft.ai/events/6929-attack-on-saudi-oil-facilities-makes-oil-prices-spike-npr.md) | +6.6% | -0.3% |
| BRENT | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.9% | -9.6% |
| BRENT | 2019-09-16 | [Diesel Fuel Prices Surge Following Drone Attack on Saudi Arabian Oil Facilities](https://feedsoft.ai/events/5987-diesel-fuel-prices-surge-following-drone-attack-on-saudi-arabian-oil-facilities.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% |
| 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 | 2019-09-16 | [Attack On Saudi Oil Facilities Makes Oil Prices Spike : NPR](https://feedsoft.ai/events/6929-attack-on-saudi-oil-facilities-makes-oil-prices-spike-npr.md) | +5.8% | -0.1% |
| WTI | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.7% | -11.2% |

## Sources

- apnews.com: https://apnews.com/article/a52632fe49004826b6ba157d20dd032f

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