Oil Falls After Spiking Due To Missile Attack On Saudi Tank Farm

Oil prices fell on Monday, hours after an early sharp price rise caused by a drone attack on Saudi oil infrastructure, per a Reuters report. Saudi Arabia later confirmed the attack. In the early hours of the morning, both Brent crude and West Texas Intermediate were up by close to 2 percent from Friday’s close, following the news. But by 10:30 a.m. ET, the price of a Brent barrel sank back to $68.72, a loss of nearly 1% on the day. Yemen Houthis said they had fired 14 drones and eight ballistic missiles at oil facilities at the Saudi port…