Commodities
Oil Prices Rise on Saudi Supply Concerns and Middle East Tensions
Oil prices pared losses on Friday as markets assessed Saudi supply alongside concerns about a widening Middle East conflict.
The Brent crude futures fell by $0.33, or 0.31%, to $104.49 a barrel, while US West Texas Intermediate futures gained $0.88, or 0.86% to $102.79.
The Saudi supply concerns were sparked by an attack on three pumping stations serving the vital East-West Pipeline in Saudi Arabia, which was damaged last week and has yet to be fully restored.
Despite reports that Saudi Arabia is seeking to restore about half of the pipeline's capacity within days, transporting oil through the region remains risky.