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Oil Prices Gain, Set to Record More-Than-7% Weekly Jump

Oil prices rose on Friday and Asia and are set to record a more-than-7% weekly gain after a drone attack on Saudi Arabia’s major oil facilities last weekend escalated tensions in the Middle East.

The attack happened on Saturday and knocked out almost half of Saudi Arabia’s production.

The U.S. and Saudi Arabia blamed Iran for the assault, but Tehran denied any involvement.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.