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Crude Spikes Past $103 as Saudi Pipeline Shuts Amid Middle East War

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The Story

News Summary

  • Crude oil surged past $103 per barrel amid escalating Middle East war disruptions.
  • Saudi Arabia closed its 7 million bpd East-West pipeline following attacks, while Persian Gulf tanker blockades persist.
  • With cancelled diplomacy, depleted Chinese inventories, and low US SPR reserves, global supply faces acute tightening.
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100.96 +55.51% over the displayed period

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