Supply concerns sustain oil over $105
Oil prices rise amid concerns over supply disruptions caused by attacks on infrastructure in Saudi Arabia. The East-West oil pipeline has been halted, reducing shipments and threatening the stability of global supplies—especially since Saudi Arabia could start depleting its reserves within days if the pipeline is not put back into operation. Brent crude increased to $106.93, while U.S. crude rose to $102.65, with fears mounting that approximately 4% of global oil supplies could be lost if the disruption continues.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)