Oil Prices Pulling Back as Saudi Arabia Recovers from Attacks

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Oil Rig Over Sea Against Sunset Sky

Unbelievably, oil prices are already plunging.

Just days after an attack knocked out 5.7 million barrels of crude production in Saudi Arabia, oil prices are pulling back on reports that production will return to normal faster than expected.

In fact, crude is now down more than 6% on the news.

All after the Saudis said they’re close to restoring 70% of the production lost to the attacks, according to Reuters.  “Oil is selling off due to the pressure of margin short covering and the fact ...

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