11:14 PM in London
Brent jumps more than $3 to about $108 as Saudi pipeline stays shut
ReportedShipping, energy & marketsLondon, United Kingdom
Brent crude rose $3.62, or 3.5%, to $108.23 a barrel by 22:14 GMT as trading opened for the week, and WTI rose $3.15 to $103.20, after the shutdown of Saudi Arabia's East-West pipeline, new Houthi strikes on the kingdom and the collapse of the Iran-Gulf Hormuz meeting. Brent held near $108 on Monday morning.
Why it matters Losing the Saudi bypass on top of Hormuz leaves few buffers for supply, keeping prices near their September highs.
Sources: Al Jazeera, FinanceFeeds, Al Jazeera live blog, Al Jazeera live blog (2)