Oil Prices Soar Amid Pipeline Shutdowns, Crypto Markets Decline
Crude oil prices surged over 2.7% after Saudi Arabia shut its East-West pipeline due to drone attacks, which threaten up to 4% of global oil supply.
The disruption pushed Brent crude above $107 as geopolitical tensions in key shipping corridors added further pressure.
Meanwhile, crypto markets and metals like gold and silver declined amid rising odds of a Federal Reserve rate hike, now priced at 86.3%.
Investors await Wednesday's Fed decision, which could further influence these divergent market moves.