This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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 (RD), Honeywell (HON - Get Report) and General Electric (GE - Get Report) lived in one of the compounds. Oil industry companies with offices in the compounds include a joint venture among Shell, Total SA (TOT - Get Report) and Saudi Aramco, Russia's Lukoil and China Petroleum & Chemical, or Sinopec. At least 11 people were reportedly killed in the initial attack.

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.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GE $24.86 0.00%
HON $102.96 0.00%
TOT $50.82 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs