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Crude Oil Surges to $103 as Saudi Shuts Key Pipeline Following Drone Attacks

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The Story

News Summary

  • Crude oil jumped toward $103 a barrel after Saudi Arabia halted its 7 million barrel-per-day East-West pipeline following drone strikes.
  • The shutdown disrupts a vital bypass around the Strait of Hormuz, while stalled regional talks further exacerbate mounting global oil supply disruption risks.
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BRENT price history

101.15 +55.81% over the displayed period

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