Oil and gas prices have risen sharply after details emerged on drone attacks damaging Saudi Arabia’s East-West crude pipeline, which transports oil from the kingdom’s eastern fields to the Red Sea port of Yanbu, bypassing the Strait of Hormuz. The pipeline recently carried around 4 million barrels per day, and had to shut down following the incident.
UK NBP front-month November gas rose more than 5% to 208.36 pence per therm on the news, while Brent crude climbed above $108 a barrel.
