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[MARKET UPDATE]: Oil gains with WTI back above USD 88/bbl, while stocks and Treasuries sell-off as FT report gets wider airing that Saudi Arabia’s east-west oil pipeline was hit by a drone attack around two hours ago

The news of a drone attack on Saudi Arabia’s oil pipeline is likely amplifying concerns over supply disruptions, causing WTI crude prices to rise above $88 per barrel.

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[MARKET UPDATE]: Oil gains with WTI back above USD 88/bbl, while stocks and Treasuries sell-off as FT report gets wider airing that Saudi Arabia’s east-west oil pipeline was hit by a drone attack around two hours ago

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Saudi Arabia’s east-west oil pipeline was hit by a drone attack, FT reports citing sources; a pumping station was hit around 1pm local time (just over 2 hours ago)

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This geopolitical tension can lead to increased volatility across markets, fueling sell-offs in equities and Treasuries as investors seek safer assets amidst uncertainties surrounding energy supply.

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