Oil prices soar after attacks on Saudi facilities

Oil prices have increased in Saudi Arabia and ended nearly 15% high with the benchmark seeing its biggest jump in about 30 years.

The rise came after two attacks on Saudi Arabian facilities knocked out about 5% of global supply.

Earlier, prices fell back after president Donald Trump vowed to release US reserves.

However, president of Rapidan energy group and a former energy adviser in George W. Bush’s administration, Bob McNally, says it is going to last as long as the US, Saudi Arabia and Iran on the other hand remain in developing conflict.