Oil: a barrel of Brent crosses the threshold of 70 dollars

The improvement in the price of a barrel continues. The price of Brent crossed the threshold of 70 dollars for the first time since May 2019, taking 2.11% to reach 70.89 dollars. An increase that occurred after the attack on the facilities of the giant Saudi Aramco in the Arabian Peninsula and against a background of optimism about the recovery of the global economy after the coronavirus pandemic.

A month ago, the price of a barrel exceeded the $ 60 mark, for the first time in more than a year, already boosted by prospects of a recovery in oil demand due to the restart of the global economy .

Saudi Arabia targeted by attacks

On Sunday, Yemen’s Houthis launched drones and fired missiles at Saudi oil company Aramco facilities and military targets in Saudi cities, in what Riyadh called a failed attack on global energy security by of the group affiliated with the Iranian regime.

Saudi Arabia’s energy ministry said an oil storage yard in Ras Tanura, site of a refinery and the world’s largest offshore oil loading facility, was attacked with a drone coming from the sea. The Defense Ministry said the armed drone was intercepted and destroyed before reaching its target.

The ministry also said missile shrapnel fell in Dhahran near a residential complex used by Saudi Aramco, the world’s largest oil company, adding that no attack resulted in casualties or material losses.

Earlier today, the Saudi-led military coalition fighting the Houthis intercepted 12 armed drones aimed at “civilian targets.” The sites attacked are on the Gulf Coast in the Eastern Province, where most of Aramco’s production and export facilities are located.

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