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Drone Attack Boils Oil Price to Scorch Stock Market Monday

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So when the when the. on strike on the oil fields happened or the refineries happened on Saturday the the immediately the economic you know authorities in the country started talking about how fast gasoline was going to go up in fact I was doing my Saturday night show and I made mention that you know maybe by the end of the weekend you already see a little bit of spike in the price it's my view engineer merely goes that's it fill it up on the way home anyway David Fisher joins us it did take center stage today and it is all of the markets are reacting to more than one stock market around the world having some reaction to this David Fisher welcome back good to talk to you we don't often talk about commodities outside of gold and silver but oil is a significant one what did all of this do to the to the price of not just that commodity but how does it impact the a larger economic picture what we call a black gold for reason it is a center of all economies of the world any of the strike did hit the jugular vein of Saudi Arabia which to put into perspective Kevin five point seven million barrels a day in this is affected of the five powers were destabilize was gonna literally take months to fix to Bernard perspective the largest oil refinery in United States puts out six hundred thousand barrels a day so this is ten times larger than our largest oil refinery twenty five cents a gallon increase is what they're expecting in gasoline prices at the pump we saw this rattle the market the Dow and almost the indexes are off about half a point today the European markets in the Asian markets totally got clobbered golden made a big round of one percent this is really disturbing a lot of uncertainty and you know I think we're gonna see effect the markets more yeah now I was speaking with general Keane earlier in the. in the hour and we have a pretty good idea that Iran is behind this but and I think is somewhat obvious as to why they would go after the oil the capacity because it's an easy way to cripple this is to the Saudis but give us some significance of what we're talking about here. all who enter trees secretary Rick Perry expects a coalition effort to be put forth president trump deal came treated says he's locked and loaded grading responded were carried out this mission and clearly the Saudis now are saying that there is proof that Iranian weapons were involved so that's the confirmation in the early reporting the food these are behind this they claim this and they said there are running it is going to be more strikes or not done yet but they have a strong tie with Iran in so you want to follow the rabbit trail it it does lead unfortunately back to Iran so we're gonna see some repercussion on our part and hopefully a coalition according to Rick Perry and also other other people in the no are saying this is going to definitely be some sort or a recourse on our part yeah no I I think that I think that Iran has to get boxed on this on the on the tip of the nose at minimum because you cannot you cannot come in and mess with the world five percent of the world's energy supplies and and do so without punishment now the general brought of something very interesting and I believe that he's on to something I think that it would be wise for us to win the next two weeks met take advantage of the U. N. session that'll be in effect next week demand before that body that around be held responsible and allow the Saudis to kind of take the lead I mean we're we're certainly capable of advising and kind of shaping the strikes we can help them with that certainly we can provide logistics but the I think the last that we have to do personally the better off America is the least in the short run now if this turns into a broader conflict you know that there's going to have to be some other

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Drone Attack Boils Oil Price to Scorch Stock Market Monday

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