Oil Jumps Above $70 After #Saudi Arabian Energy Facility Attacked - Bloomberg

Oil Jumps Above $70 After Saudi Arabian Energy Facility Attacked - Bloomberg

Oil surged above $70 a barrel in early Asian trading after Saudi Arabia said an energy facility was attacked, with prices extending gains after OPEC+ last week said it would keep production steady.

Futures in London jumped as much as 2.6% after rising 4.9% last week. The kingdom said a storage tank in the Ras Tanura export terminal in the country’s Gulf coast was attacked on Sunday by a drone from the sea. Output appeared to be unaffected after the barrage of missiles and drones were intercepted.

PRICES Brent for May settlement gained 1.9% to $70.65 a barrel on the ICE Futures Europe exchange at 7:06 a.m. Singapore time after climbing 3.9% on Friday. West Texas Intermediate for April delivery added 1.8% to $67.28 on the New York Mercantile Exchange after surging 3.5% in the previous session