Oil is surging past $109 as Saudi Arabia's Hormuz bypass pipeline stays shut

What happened

Brent crude hit $109.80 a barrel Monday after drone strikes damaged the East-West pipeline, while a regional diplomatic meeting was postponed

Summary assembled by rule from the sources below

Timeline

1. 17:29
   First appeared on Yahoo FinanceYYahoo Finance
2. 17:30
   Quartz started reportingQQuartz

Sources