Crude oil jumps as Saudi shuts East-West pipeline
Crude oil prices climbed on Tuesday following Friday's Saudi shutdown of its East-West pipeline, with broader supply-disruption concerns also cited alongside a reported cancellation of Gulf Cooperation Council talks with Iran.
Crude oil prices jumped on Tuesday, building on yesterday's surge, as supply concerns increased after Saudi Arabia shut its East-West pipeline on Friday. The cancellation of talks between Gulf Cooperation Council members and Iran yesterday also left reopening the supply route in doubt.