Saudi Arabia’s production loss, equal to more than 5% of global supply, is the single biggest output drop from one incident. Brent futures rose 19% in a matter of seconds at the open on Monday and ended the day up 15%, their biggest single-day advance.

 

While the damage is being assessed, US oil companies could see some benefit as the strikes knocked out oil-processing facilities at the Khurais oil field, which produces a light oil similar to what shale producers offer. The Eagle Ford Shale field in South Texas where major companies such as Marathon Oil and EOG Resources drill, has the ability to add to supplies.

 

Investors who want to position themselves to benefit from a short-term oil price spike or overall sustained oil price strength, might do well to consider companies with strong sensitivity to the oil price but low geographical exposure to the region – Marathon Oil, Occidental Petroleum and EOG Resources.