Saudi Aramco Strike Sends WTI Crude Surging Above $90

Saudi Aramco's oil facilities in Jizan were struck on Monday, according to reports from the Financial Times.

The extent of damage is still being assessed, but the incident has raised concerns about possible disruption to Saudi oil supplies and prompted an immediate response in energy markets.

West Texas Intermediate (WTI) crude accelerated after the headlines, moving back above $90. The contract was up 1.27% on Monday and traded around $90.40 at the time of writing, having been below $90 before the strike reports emerged.

Historically, sudden supply disruptions in the Middle East have triggered sharp risk premiums that can decay quickly once damage reports clarify.