Oil Hits Near $100 After Saudi Arabia Attacks Halt Energy Operations

Brent crude climbed toward $100 a barrel on Friday before pulling back, after Saudi Arabia reported that attacks on several energy facilities in the kingdom’s southern region forced a halt in operations. The disruption raised fresh concerns over supply from the world’s top oil exporter. Prices initially spiked on the news, but later gave up some gains as traders assessed the scale of the impact. Saudi officials did not specify who carried out the attacks or how long the shutdowns would last. The facilities affected are located in the south, an area that has seen periodic cross-border strikes in recent years. Market analysts said the move underscores how vulnerable global energy supplies remain to regional tensions. However, they also noted that spare capacity elsewhere could help cushion any prolonged shortfall. Brent, the international benchmark, has been volatile in recent weeks as investors weigh tight supply against fears of weaker demand. The latest jump brings it closer to the symbolic $100 level, a threshold not seen since late 2022.