Oil futures JUMP after Iran strike, Trump TWEETS that we’re ‘LOCKED and LOADED’ to respond!

As expected, oil futures jumped after the Iran-backed rebel attack on Saudi Arabia’s oil production facilities. And Trump is responding.

From CNBC:

Oil prices jumped more than 10% after a coordinated drone attack hit the heart of Saudi Arabia’s oil industry on Saturday, forcing the kingdom to cut its oil output in half.

U.S. West Texas Intermediate crude futures popped $6.4, or 11.67%, to $61.23 per barrel. Brent crude futures soared $7.89, or 13.3% to $68.07.

Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, knocking out 5.7 million barrels of daily crude production or 50% of the kingdom’s oil output. Saudi Aramco, the national oil company, reportedly aims to restore about a third of its crude output, or 2 million barrels by Monday.

Here’s el presidente:

It is debatable as to whether releasing our strategic reserves actually does anything to relieve the markets, but he did it. Then he tossed out some threats:

Wow. SO much for easing up on Iran. Luckily Trump assures us that there is….

Well. He’s not wrong. As I said on Twitter, we’re lucky that the idiot Hillary Clinton didn’t win. Can you imagine how she would have dismantled oil production under energy czarina Ocasio-Cortez, so that we’d be crippled in this kind of situation?

Instead, we’ve been fracking like crazy, and seeing the benefit of all that oil hitting the market, which drives prices down and saves money for every gas-guzzling Merican.

~  ~  ~

Well that’s it for Sunday. We hope you had a great weekend. As always, we thank you for every share, tweet, and comment. You keep us afloat, you’re the wind beneath our wings, and the bacon sizzling on our AR-15 barrel.

Have an open thread. Here’s some comment fodder.

Here’s how the Miami Dolphins are playing:

God bless.

Comment Policy: Please read our comment policy before making a comment. In short, please be respectful of others and do not engage in personal attacks. Otherwise we will revoke your comment privileges.