Oil prices surge on fresh attacks targeting Saudi facilities and shipping

Crude oil prices surged more than 2 percent in late trading as fresh attacks on Saudi Arabian facilities and developments near the Strait of Hormuz renewed concerns about global energy supply disruptions. Brent crude futures climbed $2.90 per barrel, or 2.77 percent, to settle at $107.51, while West Texas Intermediate crude gained $2.27 per barrel, a 2.27 percent increase, closing at $102.32.

The price movements reflect growing unease among traders about potential disruptions to oil shipments through the strategically critical Strait of Hormuz, one of the world's most important energy transit chokepoints. The attacks on Saudi Arabian energy infrastructure add to existing concerns about supply reliability in the region, where geopolitical tensions have periodically threatened crude production and export capacity.

Higher oil prices carry significant implications for energy costs across South and Southeast Asia, where crude imports play a central role in economic activity and inflation management. India, as one of the world's largest crude importers, remains particularly exposed to volatility in global oil markets, with price fluctuations directly affecting domestic fuel costs and fiscal pressures.

Market analysts are monitoring the situation closely, with further developments in the region likely to influence price trajectories in coming sessions. The combination of supply concerns and geopolitical risks has kept energy markets on heightened alert as investors assess the durability of recent gains.