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Hormuz attack and Saudi pipeline shutdown jolt global oil markets
Photo — Mumtaz Niazi / Pexels
Oil prices have surged above $108 a barrel after a merchant vessel was struck in the Strait of Hormuz and Saudi Arabia shut a key pipeline that bypasses the waterway. The incidents are raising fears over the security of Middle East energy routes and the risk of wider regional escalation.[5][8][12]
Sources: Euronews, The Guardian, Democracy Now, Council on Foreign Relations, New York Times Read full →