SINGAPORE- Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.
Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $71.11 a barrel, up $1.75, or 2.5 percent.
Yemen’s Houthi forces fired drones and missiles at the heart of Saudi Arabia’s oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.
