Oil Soars the Most Ever After Attack Cuts Saudi Supplies

The transcript discusses the significant damage to a Saudi oil processing facility, which has removed nearly half of Saudi's oil output from the market. There is uncertainty about the timeline for repairs and restoration of output, with expectations of partial recovery by the next day. The lack of clarity from Saudi officials adds to the uncertainty. This incident marks the largest attack on a Saudi oil facility, causing a notable reaction in oil markets due to increased geopolitical risk in the Middle East.

How does the recent attack on the Saudi oil facility compare to previous attacks?

What geopolitical risks are traders considering in relation to the oil markets?