Crude tops $105 as Saudi Arabia's East-West pipeline stays shut after Iraq drone strike

Crude has again traded above $105 a barrel, weeks after touching $68, after Saudi Arabia shut its 7 million barrel-a-day East-West pipeline following a drone strike from Iraq. The closure removes the largest overland bypass to the Strait of Hormuz, where daily transits remain in the low teens versus more than 120 before the Iran war.

Detected & updated continuously · Source: Nebula