Oil resumes its climb and once again surpasses $109
Saudi Arabia is delaying this month the delivery of crude supplies to some European customers.
Saudi Arabia is delaying crude oil shipments to some European clients this month. The country's state-owned oil company, Saudi Aramco, is behind the delays following the closure of its East-West pipeline, which was attacked by drones. The pipeline, which spans 1,200 kilometers and has a capacity of 7 million barrels per day, was shut down after several attacks, with the US Secretary of Energy, Chris Wright, indicating that the disruption will be measured in days and could reopen soon.
The closure has contributed to an increase in oil prices, with the Brent barrel rising over 3% to above $109 and the West Texas barrel up 4.3% to nearly $106.
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