barrel | Common News Update

A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York.Don Emmert | AFP | Getty ImagesOil prices could jump as much as $ 10 per barrel after a number of drone strikes hit the center of Saudi Arabia's oil industry, forcing the kingdom to cut its oil output in half.Ten drones attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, causing a loss of 5.7 million barrels of crude production a day or 50% of the kingdom's oil output. Although it's still too early to tell the extent of the damage and how long the facilities will be shut down, oil analysts and traders told CNBC the impact on the commodity's price could be in the double digits."This is a big deal," said Andrew Lipow, president of Lipow Oil Associates. "Fearin...

A barrel containing radioactive sludge ruptured at an Idaho nuclear facility, federal officials said Thursday, resulting in no injuries and no risk to the public but possibly slowing progress in shipping waste out of the state. The U.S. Department of Energy said the 55-gallon (208-liter) barrel ruptured late Wednesday at the 890-square-mile (2,305-square-kilometer) site that includes the Idaho National Laboratory, the nation's top federal nuclear research lab. Federal officials said it's the first known rupture of a barrel containing radioactive sludge at the site but might not be the last. That's because secretive record keeping during the Cold War makes it hard for officials to now know the exact contents of similar barrels, said Idaho National Laboratory Joint Information Center spokes...

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Oil could rise $10 per barrel after drone attack forces Saudi to cut output in half

Radioactive sludge barrel ruptures at Idaho nuclear site