Brent crude breaches 130 USD after Saudi pipeline closure

Brent crude prices exceeded 130 USD per barrel following the shutdown of Saudi Arabia's East–West pipeline, limiting the kingdom's ability to bypass disruptions in the Strait of Hormuz. Omani crude contracts reached 132.09 USD, and Abu Dhabi's Murban crude approached 124 USD. Brent futures contracts meanwhile traded much lower around 108 USD, reflecting traders' willingness to pay a substantial premium for immediately available crude.

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