Commodities
Saudi Pipeline Closure Sends Brent Soaring to Four-Month High
Crude oil futures saw a significant surge at the start of the week as investors reacted to ongoing tensions in Saudi Arabia. The critical East-West pipeline was temporarily closed after a drone strike, sparking concerns about supply disruptions.
The news drove up prices, pushing Brent to its highest point in four months. In contrast, LSGO cracks fell due to reports that Ukraine and Russia had agreed not to attack each other's energy infrastructure, easing some of the market tension.