U.S. gas prices rise after Saudi oil attack


We have been covering the historic spike in oil prices. After that attack on Saudi Arabia's oil production the weekend attack took away an estimated five percent of global oil supplies marketplace's Nancy Marshall Genzer is here with a Tuesday morning morning update Nancy. I'm seeing crude prices in Europe and the US down slightly today. Yeah Brent crude futures shot up to almost seventy two dollars a barrel yesterday and increase of almost twenty percent but by the end of the day Brent had fallen back to about sixty seven dollars a barrel. That's because traders realize realize there's a lot of oil in storage the US has its Strategic Petroleum Reserve President Trump has authorized a release of those reserves if necessary in Saudi Arabia says it has enough reserves to keep exports for the next month but most of that dramatic up word has stuck for now sixty two dollars. There's a barrel at the moment but we don't put crude in our tanks exactly we put gas at our tanks and we will definitely feel some pain at the pump David. I'm one analyst I spoke with expects us to pay ten to fifteen cents more a gallon over the next week. Other analysts are saying gas prices could rise ten to twenty five cents a gallon all right so an extra three dollars and seventy five cents per fill up with a fifteen gallon tank but what other prices could rise because of airline ticket prices because Airlines Airlines have a problem they have to absorb the oil price hike but they won't be able to raise ticket prices right away. They used to hedge on fuel but they don't do that anymore anymore. Exxon Mobil stock rose one and a half percent yesterday. Chevron went up two point two percent. BP up one point one percent some stock indices footsie see in London up two tenths percent here. The Dow future is down two tenths percent the S&P futures down a tenth percent

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