Energy

Brent breaks $70 after Houthis attack Saudi Arabia’s oil facilities

0


Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field.

Stanislav Krasilnikov | TASS via Getty Images

International benchmark Brent crude futures popped during Asian trading hours Monday, moving above $70 a barrel for the first time in more than a year.

The surge in oil prices came after Saudi Arabia said its oil facilities were targeted by missiles and drones on Sunday. A Houthi military spokesman claimed responsibility for the attacks.

Brent jumped 2.16% to trade at $70.86, while U.S. crude futures rose 2.09% to $67.47.

Saudi Arabia’s ministry of energy said a petroleum tank farm at one of the world’s largest oil…



Source cnbc.com

Target CEO says post-holiday shoppers flocked to stores in January

Previous article

Investors haven’t grasped inflation is dead ahead, Mark Zandi warns

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy