Attack in Saudi Arabia could slow down global economic growth.

Posted on September 16, 2019

West Texas Intermediate futures jumped more than 11% to trade over $61.00 per barrel. The sharp move higher comes after a series of drone strikes on Saturday knocked out about half of Saudi Arabia’s daily crude production.

Higher oil prices could put more pressure on global economy, that is coping with a slowing manufacturing sector and stubbornly low growth.