Oil prices soared on Sept 16 to levels unseen in almost thirty years after an attack on Saudi Arabian oil facilities over the weekend slashed approximately 5 per cent of global supply. Benchmark Brent crude rallied as much as 20 per cent to over US$70 a barrel. It recovered back to US$65.51 by 4pm Singapore time, but was still up by almost 9 per cent. Dr Tilak Doshi, managing consultant at Muse, Stancil, discussed more with CNA.
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