Oil prices surge over 8% amid attacks on Saudi facilities

Brent and WTI crude oil prices rose by more than 8% last week and actively surged on Monday morning due to new Houthi attacks on various facilities in Saudi Arabia, as well as the closure of the strategic East-West Pipeline in the kingdom, Report informs referring to Interfax.

November futures for Brent crude on the London ICE Futures exchange are trading at $107.17 per barrel as of 9:17 a.m. Baku time, which is $2.56 (2.45%) higher than the previous close. Last Friday, they fell by $3.02 (2.81%) to $104.61 per barrel.

October futures for WTI crude in electronic trading on the New York Mercantile Exchange (NYMEX) rose by $2.56 (2.56%) to $102.61 per barrel by this time. At the end of the previous session, their price dropped by $2.43 (2.37%) to $100.05 per barrel.