Saudi Oil Strikes Send WTI Prices Above $90

The Saudi oil facilities were hit by fresh strikes, sending shockwaves through the global energy market. As a result, West Texas Intermediate (WTI) US Oil prices surged above $90 for the first time in recent weeks.

According to reports, WTI Oil accelerated sharply following the headlines and moved back above the $90 mark. At the time of writing, the Crude Oil price was trading at around $90.40, a gain of 1.27% on Monday after previously trading below $90.

The sudden increase in prices is attributed to disruptions in supply caused by the strikes on Saudi oil facilities. The OPEC decisions and global growth are also key drivers of WTI Oil price movements.