Oil Rises More Than 1% After Attack on Saudi Refinery
An attack on a Saudi refinery fueled concerns about supply risks.
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An attack on a Saudi refinery fueled concerns about supply risks.
Crude oil rose more than 1% following an attack on a refinery in Saudi Arabia.
Oil prices rose more than 1% after an attack on a refinery in Saudi Arabia reignited concerns about supply risk.
Oil futures rose sharply as concerns intensified over renewed strikes on Iran, attacks on shipping in the Gulf and production shut-ins ahead of Tropical Storm Isaias. WTI was up 4.7% at $92.46 a barrel and Brent gained 4.5% to $104.76.
Diesel prices have rallied in Europe and the United States to record highs amid war-related export cuts from major producers including Russia, Saudi Arabia, and the United Arab Emirates, with little options cited to prevent further rises.