Gee, that was fast!
After initially surging on news that drone and missile attacks in Saudi Arabia had knocked half that country's oil production and refining capacity offline over the weekend, oil prices -- and oil stocks -- are taking a hit today. Perversely, this hit is in response to some really good news (for consumers, at least).
Over the weekend, Saudi Arabia had suggested that perhaps a third of the oil production capacity that was taken offline over the weekend might be restored by the end of Monday. But this morning, the country confirmed that progress has been faster than initially hoped, and as much as 70% of the production capacity shut down over the weekend may have already been restored -- with the remainder to be back online within the next two or three weeks.