Crude oil prices experienced a significant increase of over three dollars per barrel during Monday's market opening. This upward trend follows reports of military strikes targeting Saudi Arabian territory and maritime incidents within the Gulf region on Sunday. Brent crude climbed by 3.46 percent to reach 108.23 dollars, while WTI futures saw a rise of 3.15 percent to 103.20 dollars. Saudi authorities reported damage to residential areas and religious buildings in Jazan province attributed to Houthi forces, who also claimed responsibility for targeting a military installation. Simultaneously, maritime security reports confirmed a projectile strike on a vessel in the Strait of Hormuz, resulting in a fire and crew evacuation. Additionally, Iranian officials reported casualties following an attack on a commercial ship near their coastline, further contributing to market volatility.
Source : Newswire
Photo : Newswire
