Oil Surges Past $108 Amid Middle East Disruptions
Oil prices surged past $108 per barrel following attacks on a merchant vessel in the Strait of Hormuz and the temporary shutdown of Saudi Arabia's main oil pipeline, which bypasses the strategic waterway. Brent crude climbed above $108 on Monday morning, with further increases seen later in the day as the Saudi pipeline remained closed. The disruptions have rattled energy markets and raised concerns about global supply routes.6 sourcesSee all sources