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Brent oil sees biggest intra-day jump in 28 years. Can the up move sustain?

While in the short-term, the direct physical impact on the market might be limited, analysts say the development has the potential to move the market away from its bearish macroeconomic cycle

Topics
Saudi Aramco | Crude Oil Price | Oil price rise

Puneet Wadhwa  |  New Delhi 



Brent oil sees biggest intra-day jump in 28 years. Can the up move sustain?

Brent crude oil prices jumped 20 per cent in trade on Monday to around $71 a barrel – their biggest intra-day jump since 1991 – as attacks on a facility halted production of 5.7 million barrels of crude a day. This is more than half of Saudi Arabia's global daily exports and nearly 5 per cent of the world's daily crude oil production.

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First Published: Mon, September 16 2019. 10:03 IST

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