jordan pulse -

​Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on energy infrastructure in Saudi Arabia caused the East-West pipeline to shut down, casting doubt on efforts to mitigate shipping risks in the Gulf.
​Brent crude futures rose by $1.24, or 1.18%, to $106.93 a barrel, after climbing 1% earlier. US West Texas Intermediate (WTI) crude futures gained $1.29, or 1.24%, reaching $102.65 a barrel, following a 1.3% increase in the previous session.
​Tim Waterer, chief market analyst at KCM Trade, stated: "Oil traders are treating every new attack or targeting of infrastructure as an additional threat to supply, while remaining hyper-sensitive to any indication that flows through the East-West pipeline or through the Strait of Hormuz might return to normal."
​Traffic of commodity transport vessels through the Strait of Hormuz dropped to fewer than 10 daily transits over the weekend, down from an average of 14 over a 10-day period, raising concerns about the route that typically carried about a fifth of global oil supplies before the start of the US-Israeli war on Iran on February 28.
​Source: Reuters