Oil jumps after Saudi Arabia says tankers targeted near UAE
Tehran (KNA) - Oil futures rise on increasing concerns about supply disruptions in the Middle East after Saudi Arabia says two of its oil tankers were targeted in a "sabotage attack” on Sunday off the coast of Fujairah.
Saudi Arabia's Energy Minister Khalid al-Falih said in a statement on Monday that the attack did not lead to any casualties or an oil spill but caused significant damage to the structures of the two vessels.
The announcement came a day after the UAE confirmed that four commercial vessels had been targeted by what it called acts of sabotage off Fujairah.
The news sent Brent crude futures to $71.71 a barrel, up $1.09. US West Texas Intermediate (WTI) futures were at $62.45 per barrel, up 79 cents.
Saudi Arabia and the UAE are the largest and third-largest producers, respectively, in the Organization of the Petroleum Exporting Countries (OPEC).
"Reports on Sunday of explosions in Fujairah are likely to add further impetus to a potentially growing risk premium in the region," Vienna-based consultancy JBC Energy said.
Source: PressTV