Crude oil surges $4.30 as geopolitical tensions rise following missile strikes on a key Saudi airport.
Crude oil prices climbed $4.30 to $75.74 after reports of a missile attack on Abha International Airport in southern Saudi Arabia. The move brings prices near the July 8 high of $75.81, with traders eyeing $77.10 as the next resistance level.
Prior to the attack, oil had stabilized below $75 amid broader market volatility. The incident adds to supply concerns in the Middle East, a region critical for global oil production.
Markets are monitoring the situation closely, with potential for further price swings depending on developments.