Oil prices rose to their highest ever in over a year on Monday, after a Saudi association intercepted an explosive-laden drone fired by Iran-aligned Houthi group in Yemen. The incident raised fear of fresh trepidations in the Middle East.
Brent crude gained 1.1% or 66 cents at $63.09 per barrel 0004 GMT. The price rose to its highest at $63.44 since January 22, 2020.
U.S. West Texas Intermediate (WTI) crude futures was up 86 cents or 1.5% at $60.33 per barrel. The prices touched $60.77 in the last session.
The Saudi-led coalition destroyed the drone loaded with explosives, reported the state TV.
Oil prices have energized over the past weeks as a reason of limited supplies, production cuts (OPEC), and allied makers in the group OPEC+.