Oil prices rise after drone attacks shut down Saudi Arabia’s East-West pipeline

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Price spike comes as rebel Houthis in Yemen target oil infrastructure and capture strategic island in Bab al-Mandab straitBusiness news – live updatesOil prices have climbed above $108 a barrel after a series of drone attacks forced Saudi Arabia to close its east-west crude pipeline.Brent crude, the international benchmark for oil prices, surged to as much as $108.03 a barrel on Monday – a 3.25% increase on the day. Continue reading...