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March 19, 2021, 1:37 p.m. EDT

Oil prices climb toward session highs on report of an attack on Saudi oil facility

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By Myra P. Saefong

Oil futures climbed toward their highest levels of the trading session Friday, buoyed by reports that an oil facility in Saudi Arabia was attacked by drones. Aljazeera reported that Saudi Arabia said drones struck an oil facility in the capital of Riyadh Friday and ignited a fire, though authorities did not name the facility. Tensions in the Middle East have climbed this month. Warplanes from a Saudi-led coalition dropped bombs on Yemen's rebel-held capital Sanaa earlier this month following attacks on Saudi Arabia's oil and military facilities that have been blamed on Iran-backed Houthi rebels. April West Texas Intermediate crude rose $1.10, or 1.8%, to trade at $61.10 a barrel on the New York Mercantile Exchange, while May Brent crude added 94 cents, or 1.5%, to $64.22 a barrel on ICE Futures Europe.

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