il jumped more than $2 on Friday after reports of an explosion and shooting at the huge Abqaiq oil facility in Saudi Arabia, which triggered worries about supply from the world's top crude producer.
The Dubai-based Al Arabiya television station quoted witnesses as saying there was shooting in the area while a Saudi security source said the government had prevented suicide bombing attacks at Abqaiq.
"Security forces foiled an attempted suicide at the Abqaiq (facility) using at least two cars," the official said.
Most Saudi oil is exported from the Gulf via Abqaiq, the world's largest crude processing plant, which handles about two thirds of the country's output.
U.S crude prices hit a high of $62.60 a barrel, up $2.06. They later eased back to $62.23 at 1400 GMT.
London Brent was up $1.55 at $62.09 a barrel.
"It's not clear what damage there is, but Abqaiq is the world's most important oil facility," said Gary Ross, CEO at PIRA Energy consultancy in New York.
"This just emphasizes fears over global oil supply security when we're already facing major ongoing risks in Nigeria, Iran and Iraq."
The Dubai-based Al Arabiya television station quoted witnesses as saying there was shooting in the area while a Saudi security source said the government had prevented suicide bombing attacks at Abqaiq.
"Security forces foiled an attempted suicide at the Abqaiq (facility) using at least two cars," the official said.
Most Saudi oil is exported from the Gulf via Abqaiq, the world's largest crude processing plant, which handles about two thirds of the country's output.
U.S crude prices hit a high of $62.60 a barrel, up $2.06. They later eased back to $62.23 at 1400 GMT.
London Brent was up $1.55 at $62.09 a barrel.
"It's not clear what damage there is, but Abqaiq is the world's most important oil facility," said Gary Ross, CEO at PIRA Energy consultancy in New York.
"This just emphasizes fears over global oil supply security when we're already facing major ongoing risks in Nigeria, Iran and Iraq."
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