HENDERSON, Ky. (WEHT) – Oil prices, which have remained low for months, could spike when markets open on Monday, as Saudi Arabia works to repair the damage of a drone attack.
Experts said the price of gas could go up in the upcoming weeks as a result of a short-term disruption.
Oil prices could rise because of worries about more unrest hurting supply.
The world’s richest countries have oil reserves of more than $2 billion barrels, but experts said releasing those to alleviate supply could potentially backfire and result in higher prices on the market because of traders worrying about a problem with tight supply.
(This story was originally published on Sept. 16, 2019)