Shares of Core Labs (NYSE: CLB) rallied more than 11% by 2:45 p.m. EDT on Monday. Fueling the energy company's surge was a big-time spike in oil prices.
An attack on Saudi Arabia's oil infrastructure rocked the oil market over the weekend. Drones hit the country's Abqaiq plant, which is one of the largest oil processing facilities in the world, as well as a major oil field. The attack forced the country to shut down nearly half of its daily output. That knocked out 5% of global supplies, representing the biggest disruption ever to hit the oil market.
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Source: Motley Fool
(September 16, 2019 - 3:29 PM EDT)
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