Oil Prices Soar as Fresh Attacks Hit Saudi Arabia and Gulf Shipping

Oil prices surged on Monday as fresh attacks targeted Saudi Arabia and Gulf shipping vessels. The strikes renewed concerns about the stability of global crude flows, with Brent crude futures jumping $3.62 to settle at $108.23 per barrel.

The West Texas Intermediate (WTI) futures also rose sharply, increasing by $3.15 to reach $103.20 per barrel. Traders responded immediately to the news, pushing both major benchmarks higher in response to the potential disruption to supply.

No immediate details were available on the scale of the damage or who carried out the attacks. The absence of clarity did little to temper the bullish reaction, as participants braced for potential supply interruptions rather than waiting for confirmation of physical impact.