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Oil Stays Elevated After Saudi Attacks, No Breakthrough in Brexit Talks


Oil prices skyrocketed yesterday following attacks on Saudi Arabia’s refineries over the weekend. Some of those gains were scaled back during the Asian trading Monday, but oil-bulls retook control during the US session. Elsewhere, the meeting between UK PM Johnson and EU Commission President Juncker failed to result in any breakthrough, with Johnson reiterating that the UK will leave by Oct. 31st, with or without a deal, which means he is ready to defy the law forcing him to ask for a new extension.

Oil Prices Remain Elevated After Attack on Saudi’s Facilities

The dollar traded higher against all the other G10 currencies on Monday and during the Asian morning Tuesday. It gained the most against NZD, AUD and EUR in that order, while the currencies against which the greenback eked out the least gains were the oil currencies CAD and NOK.

Yesterday, it was all about the energy market and oil. Both WTI and Brent opened the week with huge positive gaps following drone attacks on Saudi Arabia’s refineries over the weekend. The incident has cut off...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/oil-stays-elevated-after-saudi-attacks-no-breakthrough-in-brexit-talks-20190917
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