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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Damage at Saudi Arabia's Abqaiq oil processing plant. ((AFP))
The week started with the largest "force majeure" in the history of the oil industry following the attacks on Saudi Aramco oil and gas facilities in Abqaiq and Khurais.
It represented a supply disruption of some 5.7 million barrels per day (bpd).
Still, Saudi crude oil exports were suspended for only 36 hours before resuming. Brent crude's price started the week on levels not seen since late April, above $70.
The market calmed down after Saudi Aramco customers confirmed that their near-term crude oil term allocations