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Home » IANS » Brent Crude prices jump 12% post attack on Aramco

Brent Crude prices jump 12% post attack on Aramco

By IANS
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Mumbai, Sep 16 (IANS) The global benchmark oil price, the Brent crude, jumped nearly 12 per cent on Monday.

This was one the biggest-single day leap in recent times, which came after drone attacks at the world’s largest oil processing facility at Aramco in Saudi Arabia.

Owing to subdued demand and trade tension the Brent Crude declined for the fourth consecutive session on Friday. The Brent crude oil prices had closed on Friday, slightly higher than the $60 barrel.

The Drone attacks claimed by Yemen’s Houthi rebels set alight two major oil facilities run by the state-owned company Aramco in Saudi Arabia on Saturday, the Kingdom’s Interior Ministry said.

The Saudi Press Agency, citing a statement by the Ministry, said that the drones caused the fire at the refinery in the city of Abqaiq in the Kingdom’s oil-rich Eastern Province, as well as the blaze at the Khurais oil field, around 150 km from Riyadh.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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