Oil prices rise to 20-month high after missile attacks aimed at Saudi facilities
Brent crude oil surged more than two percent Monday following a missile attack on facilities owned by energy giant Aramco in Saudi Arabia, and on optimism about the demand outlook as the global economy recovers. A barrel of the black gold jumped 2.11 percent to $70.82 a barrel, the highest since May 2019.
A missile and drone attack targeted the heart of Saudi Arabia’s oil industry on Sunday in an assault claimed by Yemen’s Huthi rebels, a new escalation in the six-year conflict.
The attack on energy giant Aramco’s facilities came as the Saudi-led military coalition bombed Yemen’s Huthi-controlled capital Sanaa after intercepting a separate flurry of cross-border Huthi drones and missiles.
