️🇸🇦🇾🇪🇮🇷🇾🇪 Reuters: Oil prices rose as attacks on Saudi Arabia and the shutdown of the kingdom's East-West pipeline heightened concerns about global supplies. Brent crude rose to $105.74 per barrel.

The pipeline, which provides an alternative route for Saudi oil exports bypassing the Strait of Hormuz, remained offline after attacks attributed to Iran-backed Houthi forces. The disruption could threaten up to 4% of global oil supplies and could exhaust Saudi export capacity within days.

Market analysts have warned that a prolonged outage could push Brent above $120 a barrel, with prices potentially reaching $130 if alternative export routes remain restricted. Additional supply concerns also arose from attacks on Russian refineries, which reduced diesel production.