World Oil Price Jumps 11%

The U.S. Strategic Petroleum Reserve has only been drawn on three times since it was created, in 1991 after Iraq invaded Kuwait, in 2005 after Hurricane Katrina seriously degraded U.S. capacity in Louisiana and Texas, and in 2011 when Libya fell apart just two years after the Great Recession. Amerika 2.0 president Donald Trump said Sunday that the SPR would be drawn on again "if needed." Saudi Arabia says it will be back to full production Monday. Saudi Arabia can say what it wants. Saturday's drone strikes built in a long term price premium by showing Saudi vulnerability to devastating attack. The short term price of oil will rise higher if the Saudis are not able to fully resume but rise it will. And rise will the price of gasoline at the pumps for Amerikan drivers. The rise in the price of all energy that Amerika 2.0 runs on increases to an extent to be seen the chances of a recession.