Can you say $5 gas and $8 diesel?….from Dotard's ‘small potatoes/excursion’ three week adventure in Iran.

 

Oil Prices Jump on Energy Supply Worries

By The New York Times

Oil prices jumped and stock futures fell Sunday on concerns that energy supplies from the Persian Gulf would be further diminished by a drone attack on a critical pipeline in Saudi Arabia.

The Saudi Arabian Energy Ministry said it was closing the pipeline as a precautionary measure, but the shutdown came after reports that the Houthi militia had seized a strategic Red Sea island and a port city, which could further choke shipping in the area. Already, most shipping in the nearby Strait of Hormuz, the narrow waterway between the Persian Gulf and the Gulf of Oman, has been halted.

Adding to the uncertainty in the region, a planned meeting between Iran and several Gulf Arab countries it has attacked during the war was indefinitely postponed on Sunday.

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