Middle East Attacks Send Oil Soaring Past $108, Triggering Global Inflation and Rate Hike Fears

Brent crude surged to $108 a barrel on Monday after Houthi forces launched drone attacks that forced Saudi Arabia to shut its critical east-west pipeline and captured the strategic island of Perim in the Bab al-Mandab strait, cutting off a vital shipping route for a fifth of the world's oil and gas.

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