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Commodities

Oil Prices Soar as Saudi Pipeline Shutdown Threatens Global Supplies

Guavy AI Editorial Team
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Oil
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Oil prices rose on September 15 amid concerns about supply disruptions following attacks on Saudi Arabia's energy infrastructure.

The East-West oil pipeline remains out of service, casting doubt on efforts to reduce risks to shipping in the Persian Gulf.

Brent crude futures rose by $1.24, or 1.18%, to $106.93 a barrel, while U.S. West Texas Intermediate crude increased by $1.29, or 1.24%, to $102.65 a barrel.

The Houthi forces in Yemen launched new attacks on Saudi Arabia, with aircraft hangars, radar systems, runways, and ammunition depots coming under attack.

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