Oil prices leap as attack on Saudi facility disrupts output

Oil prices surged Monday after an attack on Saudi Arabia's largest oil processing plant halted output of more than 5.7 million barrels of crude a day. Yemen's Iran-backed Houthi rebels claimed responsibility for the attack on the Saudi Aramco facility that paralyzed production of more than half of Saudi Arabia's global daily exports and more than 5% of the world's daily crude oil production. "To take Saudi oil production down 50%, that's shocking," said Jonathan Aronson, a research analyst at Cornerstone Macro.

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