Commodity Update March 8, 2021: Brent Surges to $71 after Saudi’s Oil Facilities Attack
Commodity update as of 9:05 local time in Thailand on March 8, 2021
Oil prices continued to rally on Monday morning with a gain of over 2.55%, surpassing the $70 mark for the first time in 14 months after a report of Saudi Arabia‘s oil facilities had been attacked on a petroleum storage tank at Ras Tanura, one of the largest oil shipping ports in the world on Sunday.
As of 9:00 local time in Thailand on Monday, March 8, 2021, Brent Crude rose 2.55% to $71.13 a barrel. Meanwhile, WTI increased in a similar direction with a gain of 2.54% to $67.77 a barrel.
