Oil hits $40 a barrel.
“Forty-dollar oil might be here for a while,” said Bill O'Grady, analyst at A.G. Edwards. “As long as there is the possibility of a terrorist attack against Saudi oil facilities, oil will have its fear-premium.”
“All you need is one person with a block of explosive in their lunchbox in a Saudi oil facility and we'd be in uncharted territory,” said Adam Seminski of Deutsche Bank in London. [John Robb's Weblog]