Oil prices climb 3% as new attacks hit Saudi energy sites and Gulf shipping

Oil prices rose by around 3 per cent on Monday, with growing concern over crude supply after fresh attacks targeted energy infrastructure and civilian facilities in Saudi Arabia, alongside Iranian attacks on vessels in the Gulf.

Brent crude futures climbed 2.8 per cent, or $2.93, to reach $107.54 a barrel at 8:00am Libya time, according to Reuters. US West Texas Intermediate futures rose 2.9 per cent, or $2.88, to $102.93 a barrel.