19 Sep Current Event Summary- 300 Word Post
The drone attacks on an oil processing facility and an oil field in Saudi Arabia on Saturday knocked out about half of Saudi Arabia’s daily crude production, the BBC reports. The impact of those missing 5.7 million barrels of daily crude production is already being seen and felt across the world as oil prices soared in the face of the disruption to the global oil supply.
While oil prices climbed (CNN reports that, in the U.S., it is up 9.8% to more than $60 a barrel, and international oil rose 10.4% to $66.47 a barrel), some stocks fell as investors got nervous about the economic impact. The Dow Jones slid 70 points, or 0.3%, after briefly falling more than 100 points. One industry that was particularly hard hit was airlines, whose stocks fell off a cliff when the markets opened. Delta, JetBlue Airways, and United Airlines were all down at least 3%, while American Airlines dropped 6.5%, according to CNBC.
Saudi officials have said that it expects to get to about one-third of normal oil output by Monday, but experts say it could take weeks for the facilities to return to full capacity, per the Wall Street Journal. If you remember back to Economics 101, lower supply leads to higher prices. Consistently, higher crude oil prices could lead to rising fuel prices, which are usually passed along to consumers in the form of higher prices at the pump and increased ticket prices in the air.
Although President Trump has said he authorized the release of oil from the U.S. strategic petroleum reserve to keep the market well supplied and prices stable, stock traders and experts don’t seem to believe it will be enough to keep fuel prices down and air ticket prices low enough for consumers to finally take that vacation.
” – “Personal Takeaway” BE SURE you write about something that is international. All posts require hyperlinks (must open in new window), images, headings, font size increases
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.