Oil extended gains as Saudi oil facility hit by drone

The international crude oil benchmarks extended gains on Friday, 25 March 2022 after a storage facility belonging to Saudi Aramco in North Jeddah was hit by a barrage of drone attacks. Although the facility is focused on the domestic market, industry experts said the incident could cause some short-term operational disruptions and reduce Saudi supply.

Brent added $1.62 to close at $120.65/barrel. 

WTI gained $1.56 to close at $113.9/barrel.