Oil surges past $108 as Hormuz attack and Saudi pipeline shutdown rattle markets | Black Bird Media08 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.">

Oil surges past $108 as Hormuz attack and Saudi pipeline shutdown rattle markets

Brent crude climbed above $108 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.