Brent crude surges past $108 as Saudi pipeline damage deepens supply fears

Oil prices jumped sharply as markets reopened Monday, with Brent crude rising more than 3% to above $108 a barrel after fresh Middle East strikes and new evidence of damage to a key Saudi export route. Satellite images released overnight appeared to show a pumping station on Saudi Arabia’s east-west pipeline charred and badly damaged following Friday’s drone attacks. Traders have warned that if the line — used to move about 4% of global supply toward the Red Sea — stays offline, export stocks could run short within days. The surge comes as attacks around the Strait of Hormuz and Bab el-Mandab keep compounding risk for seaborne crude, while hopes for near-term diplomacy faded after Oman postponed a regional meeting on Hormuz shipping. The Guardian / Reuters Question: How long can energy markets absorb simultaneous threats to both Hormuz and Saudi’s Red Sea bypass? https://www.theguardian.com/world/2026/sep/14/saudi-pipeline-drone-attack-houthis-global-oil-supply-prices