Tortoise’s Rob Thummel in Yahoo Finance

Yemen’s Houthi rebel attack on Saudi Arabia oil may hit Costco and BJ’s profits

The impact of the Houthi rebel drone attacks on key Saudi Arabian oil production assets could blowback on the profits of beloved U.S. retailers Costco and BJ’s Wholesale.

On Monday, oil prices spiked roughly 14% following the weekend’s surprise siege in Saudi Arabia. In turn, many oil experts are concerned about a risk premium being priced back into the oil markets for an extended period.

“There has really been no geopolitical risk premium in oil prices for a while now, and clearly we now have a significant geopolitical event,” explained Tortoise managing director of energy Rob Thummel on Yahoo Finance’s The First Trade.

Read more here: https://finance.yahoo.com/news/yemens-houthi-rebel-attack-on-saudi-arabia-oil-may-hit-costco-and-b-js-profits-162719130.html

© Zito Partners 2011-2019. All rights reserved.