Oil slips after hitting pandemic high above $70 after Saudi attack
LONDON : Oil prices slipped on Monday after earlier climbing above $70 a barrel for the first time since the COVID-19 pandemic began after attacks on Saudi Arabian oil facilities.
Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.
Benchmark Brent climbed as high as $71.38 a barrel in early Asian trade, its highest since Jan. 8, 2020. By 1019 GMT, it was trading down 30 cents or 0.4% at $69.06.
