Exxon Mobil was up 3.6% in US premarket trading.
Oil stocks are surging on Monday after strikes on Saudi oil fields damaged roughly half of the Kingdom's oil production. Exxon Mobil surged in premarket 3.6% while BP and shell also rallied in opening trading in Europe. In opening trading, Brent crude oil surged as much as 20% to nearly $72 a barrel, one of the biggest spikes on record. Watch oil trade live here. View Markets Insider's homepage for more stories.
Oil stocks are surging on Monday after strikes on Saudi oil fields damaged roughly half of the Kingdom's oil production. Exxon Mobil surged in premarket 3.6% while BP and shell also rallied in opening trading in Europe. In opening trading, Brent crude oil surged as much as 20% to nearly $72 a barrel, one of the biggest spikes on record. Watch oil trade live here. View Markets Insider's homepage for more stories.
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Drone strikes knock out half of Saudi oil capacity, 5 million barrels a dayDrone strikes on Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply, people with knowledge of Saudi's oil operations told CNN Business.
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US blames Iran for strikes on Saudi oil facility: 'Unprecedented attack on world's energy supply'Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom, The Wall Street Journal reported.
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Gold surges more than 1% on global turmoil — but silver rises moreSaudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.
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Drones wiped out half of Saudi Arabia's oil production — and it could lead to higher gas pricesA drone strike that knocked out half of Saudi Arabia's oil production could lead to higher oil prices globally, according to analysts.
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