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Commodities

Saudi Pipeline Attack Sends Oil Prices Soaring Towards $108 a Barrel

Guavy AI Editorial Team
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Oil
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Oil prices surged in early Asia trading on Monday after an attack on a key pipeline in Saudi Arabia shut down its operations, sparking supply fears and deepening a global energy crunch.

Brent crude jumped as much as 3.6% towards $108 a barrel, while West Texas Intermediate (WTI) or the US Crude variant rose to $103 a barrel.

Saudi Arabia halted the East-West pipeline as a precaution after attacks the previous day and has not shared any indication on when operations will resume at normal capacity.

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