Oil prices rise due to drone attack on Saudi oil facilities
The attack on Saudi Arabian oil facilities has badly affected the global oil market. Because of the attack, the oil prices have increased sharply. If the things progress in this pace, the prices are likely to increase further in the coming hours.
It was on last Saturday the oil facilities owned by a Saudi-owned oil conglomerate suffered the terrible attack. The attack badly damaged one of the biggest oil processing centres owned by Saudi Arabia.
It remains unclear who is the mastermind of the attack. An thorough investigation is on. At this moment, all eyes are on Houthi rebels, who are in war with the Saudi Arabian kingdom and its allies in Yemen with the indirect support of Iran.
Anyway, the US has released its oil reserve to contain the issue of the increase in the price of oil due to the attack.
The US action has made a slight positive impact on the issue of the increase in price of oil due to the attack.
The coming days are very crucial. Experts say that the prices are likely to fluctuate frequently in the coming days.
It is hoped that Saudi will fix the issue soon.
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