Managers warn tensions in Middle East could lead to elevated oil prices

Following drone attacks on Saudi oil fields

Beth Brearley
clock • 4 min read

Markets were blindsided earlier this month by a shock attack on oil supplies in Saudi Arabia, wiping out six million barrels per day (bpd) or 5% to 6% of the global oil supply and prompting the price of Brent Crude to soar 20%, with one commentator warning the oil price could breach triple digits by early 2020.

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