U.S. Markets closed

Oil Prices Surge After Saudi Arabia Reports 'Drone Attack' on Gulf Stations

Martin Baccardax

Global oil prices surged again Tuesday after Saudi Arabia reported an attack on two of its production facilities in the Gulf by an "armed drone" in what the Kingdom insists is an "an act of terrorism" on global crude supplies. The alleged attack targeted two Saudi Aramco pumping stations near the capital of Riyadh, the country's oil minister said, and came less than twenty four hours after reports of sabotage on two Saudi tankers in the Strait of Hormuz. The Tuesday attack caused a fire that was quickly contained, said Saudi Energy Minister Khalid al-Faliah, noting that oil production and delivery targets remain on schedule.