Oil rises after Saudi and Hormuz attacks
Oil prices rose by over 2.7% today, Monday, following new attacks carried out by the Houthis against Saudi Arabia and Iranian assaults on ships in the Gulf, increasing concerns over oil supplies. The closure of a major Saudi oil pipeline has heightened market tensions, with Brent crude reaching $107.51 per barrel, up by $2.90, and West Texas Intermediate at $102.32, up by $2.27. Sources reported that Saudi facilities and Iranian ships were targeted in these attacks, resulting in fires and injuries to some crew members, marking an escalation of events that threaten the stability of global oil supplies.
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