NEW YORK: Prices for North Sea Brent crude oil on Monday took their biggest one-day jump ever as markets reacted to a devastating drone attack on Saudi oil production.
In London, Brent benchmark crude for November delivery rocketed 14.6 percent higher, adding $8.80 to settle at $69.02 per barrel -- the largest increase since trading in the contract began in 1988, according to Bloomberg.
Meanwhile in New York, West Texas Intermediate likewise jumped 14 percent to $62.90, the biggest increase in more than a decade.
The weekend drone attack on Saudi petroleum facilities knocked about five percent of global capacity offline, rattling markets.
PM pays tribute to COAS Gen Asim Munir for his full cooperation to curb menace of smuggling
Tim Cook's tech company may lose its charm in East Asian country
Tech giant fires 28 employees for standing against genocide
Bitcoin halving is set to take place this week
US tech giant is considering to build regional hub in Southeast Asian city-state
Donald Lu reaffirms US's commitment to bolster ties with Pakistan