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Oil Spikes Past $108 as Saudi Pipeline Shutdown Disrupts Global Crude Supply

Yahoo Finance Read original source (opens in a new tab)
The Story

News Summary

  • Crude oil prices surged with Brent topping $108 and WTI crossing $104 after attacks shuttered Saudi Arabia's 7-million-bpd East-West pipeline.
  • Escalating conflict in the Persian Gulf and Red Sea threatens critical export chokepoints, forcing Saudi Arabia to cancel select September cargo deliveries to European buyers.
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BRENT price history

108.55 +67.21% over the displayed period

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