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Oil prices spike after Saudi attack disrupts global supply

Oil prices are trading at their highest levels since May after Saturday’s attack on Saudi Arabian oil facilities disrupted the global supply of crude. Futures retreated slightly after US President Donald Trump said he had authorized the use of oil from the country’s emergency reserve.

In a series of tweets, Trump said that he had ordered that oil from the Strategic Petroleum Reserve, or SPR, be used “if needed.” He said he would use enough oil “to keep the markets well-supplied.”

Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.