Saudi Arabia partially restores East-West pipeline and Brent crude falls
Business
Oil prices just took a noticeable dip after Saudi Arabia managed to partially restore its East-West pipeline, which had been hit by drone attacks.
Brent crude slipped 2.7% to under $102 a barrel.
The move comes as Saudi Arabia boosts oil sales to Asia and tries to calm supply worries in the region.
Oil up over 70% this year
Even with this price drop, oil has shot up over 70% this year thanks to global tensions, the U.S.-Iran war, and the ongoing Russia-Ukraine war, which keep markets on edge.
Earlier shutdowns in Saudi Arabia sent prices soaring, showing just how much these disruptions can shake things up for everyone, from drivers at the pump to central banks watching inflation.