Oil increases amid pipeline halt and attacks
Oil prices rose today following a shutdown of a Saudi pipeline due to attacks on infrastructure in Saudi Arabia, which heightened concerns over global oil supplies. Brent crude increased by 1.18%, reaching $106.93 per barrel, while West Texas Intermediate climbed by 1.24% to $102.65. Meanwhile, shipping activity through the Strait of Hormuz declined to its lowest level since the beginning of the year, reflecting the impact of the attacks on regional oil supplies.
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