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West Texas Intermediate crude futures surged 5.1% to $106.53 a barrel Tuesday afternoon, the highest level since early May. Saudi Arabia's East-West pipeline remains shut, and Saudi Aramco has begun canceling or delaying crude deliveries to European refiners. Energy Secretary Chris Wright told CNBC the restart "will be
Oil prices rose nearly 5% Tuesday as concerns over supply disruptions lingered after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West pipeline offline and cast doubt on efforts to ease shipping risks in the Gulf. XOM stock is trending as oil shoots higher. See the real-time price action here.