Brent drops 5.5% as Saudi works to restore output

Economies.com
2019-09-17 15:43PM UTC

Oil prices fell today to extend losses after several Saudi officials' remarks eased the market's concerns about the country's oil production.

 

Saudi sources said that Aramco's oil facilities in Khurais and Abqaiq will return to normal production sooner than expected.

 

President Trump accused Iran of being behind the attacks on Saudi Arabia, adding that he does not want to go to war, while also stressing that the US is ready for any developments in this regard.

 

As of 15:25 GMT, WTI fell by 5.1% to $59.6 a barrel, with an intraday high of $62.5 and a low of $58.7 .

 

Brent fell by 5.5% to $65.3 a barrel, with a high of $69.2 and a low of $64.2.

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