Oil Rises as Saudi Arabia Shuts East-West Crude Pipeline

Oil pushed higher after Saudi Arabia shut its East-West crude pipeline, a key alternative to the Strait of Hormuz for its oil exports, following multiple attacks on Thursday. Meanwhile, a planned meeting for Monday between Iran and several Gulf nations on creating a temporary shipping lane through Hormuz has been postponed, according to Oman’s foreign minister. Bloomberg’s Stuart Livingstone-Wallace reports. (Source: Bloomberg)