Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day
The business media claims that oil prices will go up as a result of this.
I don’t believe that. Raw material (crude) should drop, but refined products (gasoline, diesel, etc) should go up. Unaffected refineries will get a bump, IMHO, such as Valero, Phillips 66, and Marathon.
You heard it here, and its worth what you paid for it.