(Bloomberg) —
Brent oil erased gains as the market shrugged off an attack on the world’s largest crude terminal in Saudi Arabia.
Futures in London earlier surged above $71 a barrel, the highest since January 2020, before later trading below $70. The assault on a storage tank farm at the Ras Tanura terminal on Sunday was intercepted, Saudi Arabia said, and oil output appeared to be unaffected.
Oil has rebounded this year amid OPEC+ supply cuts and recovering demand, with economies emerging…
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