Oil prices jumped again - a new reason added

Oil prices rose following attacks on Saudi Arabia's energy infrastructure. The key East-West pipeline has been halted. Brent futures increased by $1.24 to $106.93 per barrel, WTI by $1.29 to $102.65. Traders are assessing the duration of the disruption.

Oil prices surged after a series of attacks on Saudi Arabia's energy infrastructure, which resulted in the shutdown of the key East-West pipeline. Brent crude futures rose by $1.24 (1.18%) to $106.93 per barrel, while US WTI futures increased by $1.29 (1.24%) to $102.65 per barrel. The market fears further supply disruptions through the Persian Gulf. Tim Waterer, chief market analyst at KCM Trade, noted that traders perceive each new attack as an additional risk to supplies and are closely monitoring signs of pipeline normalization. The key question is the duration of the outage: any prolonged disruption could push prices to the next level.