Oil prices soar after Saudi attack; U.S. crude futures up 12%, global benchmark rises 18%
Crude prices surged Sunday evening following an attack on Saudi Arabia’s oil infrastructure and announcement from President Trump that he has authorized the release of oil from the Strategic Petroleum Reserve.
U.S. oil futures advanced about 12% to $61.60 a barrel shortly after trading opened at 6 p.m. ET. Brent crude, the global gauge of oil prices, soared 13% to nearly $69 a barrel. If those moves held, they would mark some of the biggest intraday for crude in years.
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