Oil Prices Surge Amid Supply Disruptions

Oil prices surged nearly 2% on Tuesday due to concerns over supply disruptions following attacks on Saudi Arabian energy infrastructure, which left the kingdom's East-West pipeline offline.

The attacks cast doubt on efforts to ease shipping risks in the Gulf, leading to a rise in Brent crude futures by $1.87, or 1.77%, to $107.55 a barrel at 0633 GMT.

US West Texas Intermediate futures also rose, up $1.88, or 1.85%, at $103.27 a barrel, after both benchmarks increased more than 1% in the previous session.