Oil drops sharply as Saudi output seen returning soon after attacks

LONDON: Oil prices dropped sharply on Tuesday after a top Saudi Arabian source told Reuters production could be fully back on line within weeks, quicker than initially thought following weekend attacks that halved the kingdom’s output.

Saturday’s attacks raised the spectre of a major supply shock in a market that in recent months has been preoccupied with demand concerns and faltering global growth. Oil surged as much as 20% at one point on Monday.