Oil Prices Jump After Attack On Saudi Plants

Drone attacks on two major Saudi oil plants halted 5% of global oil production, causing a significant disruption to world supplies. This led to a surge in oil prices, with U.S. oil rising by 10% and Brent by 10.4%. Consumers may face higher fuel and airfare costs. In response, President Trump authorized the potential release of oil from the Strategic Petroleum Reserve and expedited pipeline approvals. Investigations into the attacks are ongoing, with Huthi rebels claiming responsibility, while the U.S. blames Iran.

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