Oil prices soar after attacks on Saudi facilities

Oil prices hit their highest in four months after two attacks on Saudi Arabian facilities on Saturday knocked out more than 5% of global supply.

At the start of trading, Brent crude jumped 19% to $71.95 a barrel, while the other major benchmark, West Texas Intermediate, rose 15% to $63.34.

Prices eased back slightly after US President Donald Trump authorised the release of US reserves.

It could take weeks before the Saudi facilities are fully back on line.

 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.