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Saudi Citizen Account Program Deposits 2.6 Billion Riyals in Beneficiaries' Accounts

Saudi Citizen Account Program Deposits 2.6 Billion Riyals in Beneficiaries' Accounts
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Saudi Citizen Account Program Deposits 2.6 Billion Riyals in Beneficiaries' Accounts

Saudi Citizen Account Program Deposits 2.6 Billion Riyals in Beneficiaries' Accounts

Saudi Arabia’s Citizen Account Program has announced the deposit of (2.6) billion riyals in the accounts of citizens benefiting from the program for the month of February 2020.

The total number of beneficiaries of this installment exceeded 12.6 million.

Since the start of Citizen Account Program, the total disbursed payments amounted to more than 66 billion riyals.

The program revealed in a statement that the total number of heads of households benefiting from the program exceeded 2.3 million beneficiaries.

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Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
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20
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Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo

Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies.

Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April 3. US West Texas Intermediate crude was up $4.09, or 6.01%, at $72.13 a barrel, Reuters reported.

Israel said early on Friday that it struck Iran, and Iranian media said explosions were heard in Tehran as tensions mounted over US efforts to win Iran's agreement to halt production of material for an atomic bomb.

"The Israeli attack on Iran has heightened the risk premium further," MST Marquee senior energy analyst Saul Kavonic said.

"The conflict would need to escalate to the point of Iranian retaliation on oil infrastructure in the region before oil supply is actually materially impacted," he said, adding that Iran could hinder up to 20 million barrels per day of oil supply via attacks on infrastructure or limiting passage through the Strait of Hormuz in an extreme scenario.