Saudi Attacks Send Oil Prices Soaring by Over 8%

Saudi Arabia's oil facilities have been under attack by Houthi forces, causing a significant surge in global crude prices. The East-West Pipeline in the kingdom has also been closed due to the attacks.

Brent and WTI crude oil futures rose sharply on Monday morning, with November futures for Brent trading at $107.17 per barrel. This represents a 2.45% increase from the previous close.

Last week saw a significant price drop, but recent developments have caused prices to surge once again. The closure of the East-West Pipeline and continued attacks on Saudi facilities are contributing factors to this increase in prices.