Oil Prices Touch $42 a Barrel
The U.S. State Department said one American was among the 22 people killed during the spree and Western diplomatic sources said a British citizen also died. The Saudi Interior ministry confirmed those reports and said the death toll also included citizens of Saudi Arabia, Italy, India, the Philippines, Sri Lanka, South Africa and Egypt.
On Saturday, the terrorists attacked both the Arab Petroleum Investment Corporation's compound and the Al-Khobar Petroleum Center. Employees of Royal Dutch/Shell
Following the attack on the offices, the militants took hostages at the nearby Oasis Residential Resorts complex. After little activity overnight, three helicopters carrying Saudi security forces arrived shortly after sunrise Sunday morning in the kingdom.
The weekend attack is the second on oil assets in the Saudi Kingdom this month. On May 1, militants killed five foreigners in an attack on a petrochemical site in the Red Sea town of Yanbu. The earlier attack was followed by a sharp rise in crude prices.
Security concerns in the oil-rich Persian Gulf region have added to market worries about supply ahead of the peak summer driving season in the U.S. and Europe. Prices have repeatedly hit record highs on the Nymex and have twice closed within $42 a barrel.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV