How High Will Gas Prices Go? Oil Spikes to Over $71 Per Barrel, Worst Sudden Disruption Ever

Global oil prices surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5% of global supplies.

In one of the most dramatic oil market opens, Brent futures jumped almost $12 a barrel in the seconds after trading started on Monday, the biggest advance in dollar-terms since they were launched in 1988. On the New York Mercantile Exchange, West Texas Intermediate contracts were frozen for about two minutes after the scale of the move delayed the market open.

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