Oil prices rise as Saudi pipeline outage, fresh attacks raise supply concerns

Oil prices climbed on Tuesday as concerns over supply disruptions mounted following attacks on Saudi Arabian energy infrastructure. The East-West pipeline, which allows oil exports to bypass the blockaded Strait of Hormuz, was left offline after attacks by Iran-backed Houthi forces in Yemen, raising doubts about efforts to ease shipping risks in the Gulf. Brent crude futures rose 1.18% to $106.93 a barrel, while U.S. West Texas Intermediate futures increased 1.24% to $102.65 a barrel.

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