Saudi Aramco Facilities Attacked, Global Crude Oil Prices Surge

Global crude oil prices surged on Monday after Saudi Aramco's oil infrastructure in Jizan, Saudi Arabia was hit by a fresh attack amid renewed fighting involving Yemen's Houthi rebels.

The assault led to a sharp increase in Brent crude to $97.53 per barrel, up 1.30%, while West Texas Intermediate (WTI) gained 0.91% to $92.31 per barrel. Murban crude recorded an even sharper rise of 4.36% to $107.80 per barrel.

The Houthi rebels have been at odds with Saudi Arabia, declaring a blockade of the kingdom's Red Sea ports in July and launching series of drone and missile attacks against Saudi energy infrastructure.