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Oil Price Rise After Attack on Oil Infrastructure in Saudi Arabia

Oil prices rose today after reports of drone attacks by Yemen’s Houthis on two oil pumping stations in Saudi Arabia. Brent barrel increased by 1.3% to reach $71.14, and West Texas reached $61.67 per barrel, a 1.03% increase.

Saudi Energy Minister Khalid Al-Falih confirmed that the fire was contained and oil production was not interrupted as a result of the attack.