FYI: Soon after the attacks on Saudi Arabia’s oil infrastructure last Saturday, investors and analysts were calling it a black-swan event—the kind of unexpected shock that shakes markets and forces changes to investing models.
Attackers using low-flying drones and cruise missiles knocked out 5.7 million barrels worth of production, or about 60% of what Saudi Arabia currently produces. It was the largest supply disruption in history. On Monday, Brent oil futures shot 15% higher, the most since 2008, and the oil equities most dependent on crude prices soared as much as 20%.
By the middle of the week, however, the swan was waddling more like a common park duck.
Regards,
Ted
https://www.barrons.com/articles/what-the-saudi-oil-attacks-mean-for-energy-investors-51569012612?mod=past_editions
