Oil Prices Skyrocket to 16-Week High Amid Middle East Attacks

Global oil prices surged to a 16-week high on Monday after infrastructure strikes in Saudi Arabia and maritime disruptions in the Middle East. Brent crude rose over 4% to reach $100 per barrel, while US West Texas Intermediate (WTI) also exceeded this mark.

Fernando Cruz, Director of Energy at Kannbal Consulting, noted that policy shifts and economic pressures are driving a structural realignment of Mexico's upstream oil sector, shifting the operational burden onto local players and PEMEX.

Meanwhile, the Mexican Petroleum Institute (IMP) and the Veracruz State Energy Agency (AEEV) signed a General Collaboration Agreement to promote energy planning, technological innovation, environmental protection, and human capital development in the region.