Hormuz Attacks Send Oil Prices Soaring Again

Oil prices rose on Monday after attacks on a UAE-linked tanker in the Strait of Hormuz and a Saudi energy facility.

The Brent crude futures gained 1.1 percent to $84.46 a barrel by 00:56 GMT, while US West Texas Intermediate crude futures rose 0.8 percent to $78.79.

The attacks on the Adnoc tanker were described as 'unprovoked' by the UAE Ministry of Foreign Affairs, which called on Iran to halt hostilities and unconditionally reopen the strait.

Since the beginning of the conflict, 15 Adnoc vessels have been attacked by missiles and drones as they transited the strait, including three vessels last week. The attacks have resulted in one fatality and 20 injuries among crew members.