Commodities
Saudi Pipeline Attacks Spark Record Oil Price Surge in China
Chinese oil prices have hit record highs following attacks on the Saudi pipeline in late September. The impact of the attacks has been felt across Asia, with China's Shanghai crude oil futures reaching a new high of $72.21 per barrel. This represents a surge of over 3% compared to the previous day's price.
The attacks on the Abqaiq facility, which is one of Saudi Arabia's largest oil processing plants, resulted in significant damage and disruption to the country's oil production. The incident has had far-reaching consequences for global energy markets, with prices rising in response to concerns over supply disruptions.