Update: Oil prices soar above $108 as Houthis strike Saudi infrastructure

A report from The Guardian — World focuses on “Update: Oil prices soar above $108 as Houthis strike Saudi infrastructure” and sets out the main development contained in the supplied source material.

Iran-linked rebels force closure of east-west pipeline and capture strategic island in Bab al-Mandab strait Business news – live updates Oil prices have climbed above $108 a barrel following a series of drone attacks forced Saudi Arabia to close its east-west crude pipeline. The report also notes that Brent crude, the international benchmark for oil prices, surged to more than $108.5 a barrel on Monday – a 3.7% increase on the day.

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