(Sept 17): Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply.

As state oil producer Saudi Aramco grows less optimistic that there will be a rapid recovery after the strikes that cut the nation’s output by half, investors are looking for clarity on just how bad it could be. Initially, it was said significant volumes could begin to flow again within days but Saudi officials later told a foreign diplomat they face a “severe” disruption measured in weeks and months. Brent crude traded just shy of US$69 a barrel after jumping the most on record on Monday.

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