The oil market will rally by $5 to $10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
An attack on Saudi oil facilities on Saturday will cut the kingdom's output by 5.7 million barrels per day, or more than 5% of global oil supply. making the United States the only real holder of the global supply cushion via its ability to raise own output or to soften sanctions against other major oil producers.
Cameron LNG has sent out eight cargoes since May, reaching a level of three cargoes a month in August. The last cargo left on Sept. 7.