The latest on the Saudi oil attacks – CNN
Oil prices spiked Monday after the attack on the heart of Saudi Arabian oil production.
US oil futures jumped 14.7%, settling at $62.90 a barrel. It was the biggest spike since January 2009. Futures of Brent crude, the global benchmark, settled up 14.6% at $69.02 a barrel.
Gasoline futures, meanwhile, were up more than 13%, which isn’t boding well for American drivers.
What this means for gas prices: Experts say consumers may begin to notice higher prices soon. But here’s some good news — gas prices probably won’t climb high enough to substantially hurt the US economy.