Brent over 70 Dollars after Attack on Oil Facility
On the oil market prices rise, Brent oil now costs over 70 dollars, after Saudi Arabia confirmed an attack on an oil facility in the east of the kingdom. Yemeni Huthi rebels claimed responsibility for the attacks, which were aimed at military targets as well as the plant belonging to energy giant Aramco. Oil on the futures market is rising sharply. While a barrel of Brent crude cost 63.50 dollars on Thursday afternoon, the current price is 70.75 dollars. In the previous week, the price was initially driven up by the confirmation of the Opec+ production cut, and now by confirmed reports of an attack on an oil facility in eastern Saudi Arabia. The Yemeni Huthi rebels claimed responsibility for the attacks on Twitter, which they said were aimed at military targets in the town of Damman near Dharhan as well as the plant of energy giant Aramco. On the stock exchanges, it is to be expected that the sector of European oil stocks will benefit from the rising prices and perform better than the overall market.