Saudi Oil Refinery attacked

Sounds like 5% of the world supply will be cut. I'm sure prices will go up already tomorrow.

Brian

How convenient lol.

Drones, now any nation can bomb any other nation. You don't need missiles, rockets or nukes. With the modern warfare progressing more and more to terrorist type small actions and now major front etc. these types of attacks will become much more common and there are a whole host of groups wanting to take credit for these as well. We just never seem to grasp how much animosity and hatred many groups have against each other and how willing they are to kill and die for their beliefs. Here we use our politics to manipulate our divisions and then we can complain about each other as a way to garner funds to increase our manipulation.

Bryce

I read the Saudis are saying it won't greatly effect their oil output. But you're right.....someone sneezes the wring way over there and prices increase 20%

I hope in response, someone goes in and takes out Iran's production...that would hit them hsrd

I hope they all wipe each other out. The world would be a better place.

Gas is gonna get a little spendy.

A few hundred drones with dirty bombs launched all at once could wreak a lot of havoc.

I thought we were energy sufficient, why would this bother us?

Saudis said they will be back to normal by Monday morning

I doubt it will change anything more than a couple cents. Then again, I own more than 5,000 shares of oil/gas stocks, so I might be OK with a lil uptick.

YUP!

I wouldn't hold my breath on that one !! Prayers sent if you've owned them long term

I've owned BP for 5 years or so. Great dividend and stock price has been pretty steady. Also own Valero, bought a few years ago, should have, maybe, sold last year. Not a great dividend. Bought at a bit over $80, went up to about $100, now around $80. Could have done better elsewhere, but I haven't lost anything.

Well that's a good thing. Valero has had a rough few months. I gave up on oil investing a couple years ago. The world is just awash in oil at the moment. I just don't see the catalyst for it to come back...........other than a major war

This, certainly, isn't my life savings. More of a "holy crap, did that really happen" portfolio. It's almost as volotile as an internet stock, anymore.

I'd be looking for somewhere else to park those dollars I believe ))

Well if it is straight math then 5% reduction in total supply would take our current $2.50 per gallon to about $2.63, but then with many things it is seldom straight math with all he emotion, politics etc. that come into play.

Bryce

I like a little diversification, even if it seems, totally, wrong today.

I hear ya !

It will be interesting to see if news puts springs on the longs feet. Wed. oil had good volume with 4,130 contracts being liquidated and Thurs had good volume and 15,852 contracts added. A theory is when you have good vol. and an increase in contracts as in crude Thurs. then it means the shorts enjoyed a short ride and not only took profits but also reversed their positions, in other words if a guy was short 20 contracts he would buy 40. That gives him more power than just buying back his shorts and keeps up the total even on good vol. And Fri they added close to 22,700 contracts according to the preliminary report on much lower vol. It will be interesting to see if someone has built themselves a spring board.
My understanding is all just theory, but just to be on the safe side maybe Coonman needs to fill that mower completely up, lol. Whatever happens as always 50% of the market is on the losing side, short term anyway.

I bought VLO back in June after the refinery fire here. It's up 4.7% since and pays nearly over 4% dividend. It's they only oil comp I own now and I hang on to it for a little while longer.

I hope we don't use this as an excuse to go into Iran.... Why is it that we don't believe the Yemen rebels when they claim responsibility for this?-NOT trying to start a big political argument here.

I heard on the news that oil prices actually went down after the attack.

Local news said to expect 10-25cent increase in next week or so.

Up .20 here now.

Cause the Yemeni Hooti rebels are an Iran proxy.

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I think it's possible that the Houthis actually did the act but it's pretty clear that they are Iran's proxy. Iran has every reason, both political and economic to damage Saudi. The problem is a tough one. No response will lead to more attacks and a strong response will drive oil prices up.

Personally I think this is Iran's last desperate attempt to get the sanctions lifted......very much like the Japanese at Pearl Harbor. Let's hope not.

Looks like they got springs on their feet, now something to look at is whether since its a power up gap if it will ever retrace.

CRUDE SPIKES SO GOOD OL "TRUMP" releases strategic oil reserves. Guess which way gas prices r gonna go now u libtards!!!!

Apparently we are locked and loaded.

For every $1.00 increase in the price of a barrel of Crude Oil, is it 5 Cents ; or 10 Cents increase in the price at the pump ?

OUR presidents words:
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!

Ain't this great?

They're having hard time keeping above $60/bbl right now!!!

Make sure Saudi's didn't do it themselves to try to boost prices???

How much have prices gone up around the country today?

Same price as last week here.

Did thy not see any comeing in?They must have zero defense system.

Inside job to raise prices is my guess.

An eye for an eye.

Saw where Iran's oil sales have dropped to a third of what they were last year because of the sanctions. So I am sure they want to strike out at the US but my question is we have sold the Saudis the latest in weapons and fighter jets so why don't they take care of business? Why can't we just stand by and let them go?

Exactly, let them handle it themselves. If they were actually attacked. Kinda sounds like it was planned. U,S should try and stay out if all possible. Sarge