The price of a barrel of Brent crude oil was up by around 3% to 108 US dollars (£80) on Monday morning.

Saudi Arabia shuts its vital East-West oil pipeline after drone attacks launched from Iraq, as regional tensions and Red Sea threats push oil prices above $100.

Saudi Arabia has shut down its East-West pipeline, after the vital oil conduit came under aerial attack in the widening West Asia war, threatening to send energy prices even…