Oil Surges Toward $100 as Saudi Attacks Disrupt Energy Operations; Novartis Shares Plunge on Trial Failure
Source Summary
Brent oil climbed toward $100 per barrel following Saudi Arabia's halt of some energy operations near its Yemen border due to attacks, underscoring regional supply risks. Novartis shares fell as much as 10%, the worst performance since 2020, after its del-desiran treatment for a rare muscle-wasting disease failed to meet the primary endpoint in a phase 3 trial, with Vontobel characterizing the result as another major pipeline setback.
Why it matters
Supply disruptions in the Middle East directly affect global oil prices and energy costs, while major pharmaceutical trial failures signal reduced pipeline value and investor confidence in drug developers.
