Price spike comes as rebel Houthis in Yemen target oil infrastructure and capture strategic island in Bab al-Mandab strait
Oil prices have climbed above $107 a barrel after a series of drone attacks forced Saudi Arabia to close its east-west crude pipeline.
Brent crude, the international benchmark for oil prices, surged to as much as $108 a barrel at one point on Monday, later easing back to $107.7 – a 3% increase on the day.
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