Add as a preferred source on GoogleOil Prices Rise 2% After Saudi Airport and Tanker Attacks
WTI reached $93.78 a barrel and Brent hit $106.80 as the incidents raised concerns about Middle East supply disruptions.
Oil prices rose about 2% Monday after attacks in Saudi Arabia and against a tanker near the Strait of Hormuz intensified concerns about disruptions to global energy supplies.
West Texas Intermediate climbed $1.93, or 2.10%, to $93.78 a barrel. Brent crude gained $2.09, or 2%, to $106.80.
An Oct. 10 attack on King Khalid International Airport in Riyadh killed 12 people and injured 309.
An outbound tanker was struck by an unidentified projectile in the Strait of Hormuz on Oct. 10. The crew was safe, while the incident involved a fire on board.
The waterway is a major route for Gulf energy shipments, making any disruption relevant to inflation and financial markets, including crypto markets. Global oil demand is expected to decline by 2.5 million barrels per day in 2026 before rebounding by 2.6 million barrels per day in 2027.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.