Oil futures hit four-month high as Middle East routes obstructed
Crude futures rise to their highest level in four months amid growing supply worries tied to threats to alternative Middle East export routes, including the outage of Saudi Arabia’s pipeline to the Red Sea.
Crude futures climbed to their highest level in four months as supply concerns deepened after threats to alternative Middle East export routes, including the outage of Saudi Arabia's pipeline to the Red Sea. Nikos Tzabouras of Tradu said in a note that the bias remains clearly on the upside.