Exxon Mobil, BP and other oil stocks are surging after strikes on Saudi oil fields wiped out half of the Kingdom's oil output

Oil stocks are surging on Monday after strikes on Saudi oil fields damaged roughly half of the Kingdom's oil production. Exxon Mobil surged in premarket 3.6% while BP and shell also rallied in opening trading in Europe. In opening trading, Brent crude oil surged as much as 20% to nearly $72 a barrel, one of the biggest spikes on record. Watch oil trade live here. View Markets Insider's homepage for more stories.

Oil stocks are surging on Monday after strikes on Saudi oil fields damaged roughly half of the Kingdom's oil production. Exxon Mobil surged in premarket 3.6% while BP and shell also rallied in opening trading in Europe. In opening trading, Brent crude oil surged as much as 20% to nearly $72 a barrel, one of the biggest spikes on record. Watch oil trade live here. View Markets Insider's homepage for more stories.

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