Friday, February 24, 2006


Saudi Refinery Attack Boosts Oil, Gold

Events again boosted the price of gold. "At least two cars exploded at the gates of Saudi Arabia's huge Abqaiq oil facility on Friday when security forces fired on suicide bombers trying to storm the world's biggest oil processing plant, Saudi officials said. Oil prices jumped $2 a barrel on news of the attack in the world's largest oil exporter."

"Gold fututes climbed as much as $10 an ounce Friday to touch a two-week high, poised to mark a gain for the week as investors fretted over an explosion at an oil refinery in Saudi Arabia."

Could this be the start of a Saudi civil war? Some details make it sound like an organized attack. Or is it very isolated?
out at the peak,
The civil war has been on in SA for years. BTW, I love Arab politics/history if anyone wants to talk about it.
But this is the first time there was a civil attack on a SA oil refinery, right? (The media claimed that.)
So even if they country has been in civil war, it seems the oil wasn't targeted.

Maybe my understanding is completely off, and Ben can set me straight. :)
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