KONTAN.CO.ID - NEW YORK. Oil prices surged more than 15% to their highest level in nearly four months at the open on Sunday after an attack on Saudi Arabia's oil facilities on Saturday that knocked out more than 5% of global oil supply. Brent crude futures jumped more than 19% to a session high of $71.95 a barrel at the opening, while U.S. crude futures surged more than 15% to a session high of $63.34 a barrel. Both benchmarks rose to the highest since May. Prices were up about 12% by 6:29 p.m. (2229 GMT), giving up some gains after U.S. President Donald Trump said he authorized the release of oil from the U.S. Strategic Petroleum Reserve (SPR) if needed in a quantity to be determined because of the attack on Saudi's facilities.
Oil prices surge 15% at the opening after attack on Saudi facilities
KONTAN.CO.ID - NEW YORK. Oil prices surged more than 15% to their highest level in nearly four months at the open on Sunday after an attack on Saudi Arabia's oil facilities on Saturday that knocked out more than 5% of global oil supply. Brent crude futures jumped more than 19% to a session high of $71.95 a barrel at the opening, while U.S. crude futures surged more than 15% to a session high of $63.34 a barrel. Both benchmarks rose to the highest since May. Prices were up about 12% by 6:29 p.m. (2229 GMT), giving up some gains after U.S. President Donald Trump said he authorized the release of oil from the U.S. Strategic Petroleum Reserve (SPR) if needed in a quantity to be determined because of the attack on Saudi's facilities.