Oil prices soar on Saudi, Russian supply fears
Oil prices soared Monday as a weekend attack on Saudi facilities and EU discussions on banning Russian crude raised concerns over global supplies.
Top producer Saudi Arabia warned that Yemeni rebel attacks on the kingdom’s oil facilities pose a “direct threat” to global supplies, the comments helping Brent North Sea crude surge 6.1 percent to $114.55 per barrel with WTI rising 5.5 percent to $110.48.
