Oil jumps 8% as US-Iran war pressures Saudi Arabia, explosions hit Egypt

🇸🇦 Al-Monitor Middle East (SA) —
Oil jumps 8% as US-Iran war pressures Saudi Arabia, explosions hit Egypt

AI Summary

Brent crude oil prices surged over 8%, climbing above $90 per barrel amid renewed US-Iran tensions and attacks on Saudi oil exports by Houthis. Explosions in Egypt have exacerbated regional instability affecting global energy markets.

The price of benchmark Brent crude climbed past $90 per barrel on Wednesday after a renewed round of US-Iran hostilities shattered a days-long lull in fighting and the Houthis targeted Saudi oil exports.

World Security Conflict Politics Markets Commodities Energy oil prices US-Iran tensions Saudi Arabia Houthis attacks explosions Egypt energy markets Brent crude

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