Oil Pipeline Damage and Rate Hike: Saudi Arabia's East-West Pipeline Under Repair

Saudi Arabia's east-west oil pipeline was damaged in an attack last week, affecting two pumping stations. The damage has not significantly impacted overall oil production, but it may take around six weeks to fully restore capacity.

The Committee at the Federal Reserve voted unanimously to raise interest rates by 0.25% to support a return to its 2% inflation goal. Most officials expect one more rate hike this year.