2 Hrs
Source:
The Guardian
Oil prices increase after pipeline attack
Oil prices rose above $107 a barrel after drone attacks forced Saudi Arabia to shut its east-west pipeline, with Yemen’s Houthi forces capturing the island of Perim in the Bab al-Mandab strait. The attacks increased market concerns about supply disruptions amid tensions in the Gulf and the broader Middle East region. Traders warned that Saudi Arabia may exhaust its oil stocks if the pipeline remains closed.
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