Global Oil Prices Could Hit Highest Levels in Months After Saudi Pipeline Attacks
Prolonged restrictions on exports could push oil prices even higher.
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Breaking News, World Updates & Headlines
Prolonged restrictions on exports could push oil prices even higher.
Read MoreBritain is considering expanding fossil fuel production at the risk of undermining its climate goals.
Read MoreAnalysts said they expected the price of Brent crude, the international benchmark, to remain elevated for the rest of the year.
Read MoreThe decision on Sunday by the cartel of oil-producing nations and some of its allies came after the resumption of U.S. and Iranian military strikes in the Persian Gulf.
Read MoreForced away from the Strait of Hormuz in the Persian Gulf, the Saudis turned to the Red Sea. Now they are relying on a less dangerous but more complicated detour via the Suez Canal.
Read MoreMore vessels are navigating the Strait of Hormuz with their location devices turned off to evade attacks by Iran, adding to the threat of collisions.
Read MoreEven if a cease-fire materializes, Gulf exporters recognize that relying strictly on the Strait of Hormuz is a risk they can no longer take.
Read MoreHigher oil prices propelled a quarterly earnings jump for Saudi Arabia’s energy giant, which used pipelines to work around disruptions in the Strait of Hormuz.
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