Crude climbs to highest since 2014 after attack on Abu Dhabi oil facilities

'The damage to the UAE oil facilities in Abu Dhabi is not significant in itself, but it raises the question of even more supply disruptions in the region in 2022.'

Oil prices have climbed to their highest since 2014 as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook.

The price of a barrel of Brent crude rose almost 1% to $87.25 (€77.05) as supply concerns mounted this week after Yemen's Houthi group attacked the United Arab Emirates (UAE), escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.