Saturday’s drone attack on a key oil processing facility in Saudi Arabia has caused a sudden surge in wholesale oil prices worldwide.
The attack, which was carried out by ten armed drones, inflicted severe damage on Saudi Arabia’s Abqaiq facility and the Khurais oil field. About 6% (5.7m barrels a day) of the daily global oil supply was disrupted.
Yemen’s Houthi rebels have claimed responsibility for the attack, but the US quickly dismissed such claim and blamed Iran instead.
Motorists are now likely to see price increases at the pump over the coming days.