Brent Crude Approaches $100 After Saudi Energy Infrastructure Incident

Why it matters locally: An increase in Brent crude oil prices could lead to higher fuel costs for Wisconsin residents and businesses, impacting transportation, manufacturing, and agricultural sectors throughout the state.

London — Brent crude, the international benchmark for oil prices, climbed to $99 a barrel after Saudi Arabia reported an attack on its energy infrastructure. Saudi authorities confirmed the incident. They stated the attack caused temporary disruptions to operations at the affected energy assets. Following the announcement, investors reacted to the news. The price of Brent crude reflected this market response.