Saudi Energy Sites Attacked, Brent Oil Prices Surge Near $100

Brent oil prices surged near $100 a barrel on Tuesday after Saudi Arabia reported attacks on several energy facilities in its south, halting operations.

The global benchmark was approaching $99, following last week's rally driven by Middle East tensions and increased buying from China.

Saudi state-run media stated the strikes occurred on Tuesday and injured multiple people. Iran-backed Houthi militants claimed responsibility for targeting the Jazan refinery, which produces 400,000 barrels a day, as well as facilities serving the domestic market.

The disruption adds to concerns about oil supplies facing continued disruptions due to Houthi attacks and the Iran war, with global inventories declining rapidly. Prices for refined fuels like diesel are soaring worldwide.