US dollar rose against a basket of major currencies today, on strong haven demand on assets such as dollar and gold, amid mounting global economic concerns after the two sabotage attacks on Saudi Arabia.

Two Saudi Aramco's oil facilitates were hit by drones sabotage attacks that led to a supply suspension.

The US accused Iran of being behind the attacks against Saudi Arabia, and the Pentagon released satellite imagery of drones carrying explosives targeting the Saudi oil facilities.

The attacks increased the global markets' concerns about the growth of oil consuming economies, after the impact of this jump in oil prices.

As of 17:41 GMT, dollar rose by 0.4% to 98.6 points, with an intraday high of 98.7 and a low of 98.03.

Oil prices jumped today, after two sabotage attacks on Saudi Aramco's oil facilities.

News agencies reported on the weekend two drone attacks on two Aramco's oil facilities in Abqaiq and Khurais.

The Saudi Energy Minister, Prince Abdulaziz bin Salman stated that these attacks have suspended 50% of production in the attacked facilities.

President Trump's administration accused Iran of being behind the attacks and the US Secretary of Energy Rick Perry proposed an international coalition of oil producers and consumers to counter Iran's activities in the region.

Brent jumped by the biggest daily gain in dollars since the Gulf War, weighed by global markets' concern about crude supplies and overall economic growth as a result of the jump in prices.

Oil prices surged today, and Brent notched the largest daily gains (in dollars) since the first Gulf War, on markets' concerns over global supplies and economic growth.

As of 15:51 GMT, WTI rose by 11.6% to $61.2 a barrel, with an intraday high of $63.3 and a low of $58.7.

Brent jumped 12.1% to $67.5 a barrel, with a high of $71.9 and a low of $64.6.

Two Saudi Aramco's oil facilitates were hit by drones sabotage attacks that led to a supply suspension.

Therefore, oil prices surged today, and Brent notched the largest daily gains (in dollars) since the first Gulf War, as a result, markets' concerns over these attacks emerged.

President Trump's administration accused Iran of being behind the attacks that targeted Saudi Arabia and Tehran denied.

While market's experts see that the US and other producers such as Brazil and Mexico may resort to using their strategic oil inventories to support the supply in the market.

Whilst, US Secretary of Energy Rick Perry said that talk of using the strategic reserve is premature, but who knows?

Otherwise, the US Federal Reserve will launch its monetary policy meeting tomorrow with forecasts of another rate cut, but with this sharp rise in oil prices, fuel prices will increase, which in return will push inflation towards the Fed's target, and another rate cut won't be needed.

Saudi Arabia has confirmed its commitment to the OPEC output cut agreement will seek to reduce and eliminate any damage caused by terrorist attacks.

It's also possible that the US Secretary of Energy's proposal for an international coalition of oil producers and consumers to counter Iran's activities in the region can be achieved.

Palladium fell slightly today while still near its all-time high as it closed last week above the $1600 barrier for the first time in its history.

Palladium rose on increased demand on industrial metals amid hopes about the easing of the US-China trade war.

Palladium also drew support from major automakers' remarks on their intentions to shift from diesel and gasoline powered cars, on the sidelines of The Frankfurt Motor Show.

The prices jumped on strong automakers demand on palladium, which is used in the industry to produce low emissions components.

Bearing in mind that this trend towards electric or the less polluting cars is because of governments' standards and efforts to combat the climate change.

As of 14:07 GMT, palladium fell by 0.6% to $1590.3 an ounce, with a high of $1619.8 and a low of $1590.