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Brent surges 14.6 percent in one day after Abqaiq attack Javier Blas reveals historical price spikes
Javier Blas has compiled a ranking of the largest one-day percentage price increases for Brent crude oil, excluding the 2020 Covid period.
The data shows that on 16 September 2019, Brent prices climbed 14.6 percent following the Abqaiq attack. Other major one-day surges included a 14.05 percent jump on 6 August 1990 during the Kuwait invasion, a 13.77 percent rise on 23 March 1998 attributed to an OPEC output cut, and two significant increases during Desert Storm in January 1991—13.71 percent on the 7th and 13.63 percent on the 14th.
These historic oil price surges underscore the complex interplay between geopolitical events and market dynamics—a relationship further illuminated by shifts in production from major suppliers. For perspective on how output from key players can influence price trajectories, Javier Blas has previously examined how Iranian oil production now surpasses levels from Trump’s second term, as detailed in his coverage of Iranian oil output exceeding historic benchmarks.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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