Oil prices jumped above $70 a barrel for the first time in 14 months after Saudi Arabia, the world’s top oil exporter, said its energy facilities had been attacked on Sunday, targeting “the security and stability” of global supplies.
A drone attack from the sea on a petroleum storage tank at Ras Tanura, one of the largest oil shipping ports in the world, took place on Sunday morning, the kingdom said.
Brent crude, the international benchmark, rose as much as 2.9% to $71.38 a barrel on Monday morning in Asia while West Texas Intermediate, the US benchmark, rose by a similar amount to a high of $67.98 a barrel.
