Gold and oil prices gain following attack on Aramco’s Jeddah facilities [Video]

Gold and oil prices surged on Friday, as markets reacted to the news that there was an attack on Saudi Aramco’s facilities in Jeddah.  

Reports claimed that missiles and drones were fired at the facilities, near the port city, resulting in huge explosions. 

A Yemeni based Houthi group took responsibility for the attacks, which came days before a Formula One event was to be held in Jeddah.

Following the attack, Saudi Arabia refused to  bear responsibility for any global oil shortages, as a result of the attacks on its oil facilities.

WTI crude hit a high of $115.74, whilst XAUUSD peaked at $1,964 for the day. 

Meta marginally higher, following U.S/EU data transfer pact

 Meta was trading marginally higher on Friday, as it was reported that the EU and U.S. had agreed on a new data sharing pact.

Several huge tech companies in the U.S. the likes of Meta and Google, were considering their options in Europe, as both were uncertain about how changes in legislation would affect data flows.

Today’s pact will see the formation of a new framework for cross-border data transfers, which will replace the old “privacy shield”.

Speaking on Friday, President Biden said that, “This framework underscores our shared commitment to privacy, to data protection, and to the rule of law”.

Both Meta and Google shares were higher on the news.