OPEC Basket Hits $123.11, 5-Month High on Saudi Pipeline Shutdown

The OPEC basket price surged 5.6% to $123.11, the highest in five months, driven by the 'preventive' shutdown of a Saudi oil pipeline amid Middle East conflict. The shutdown underscores supply-chain vulnerability in the region, though the duration and impact on global supply remain uncertain. This development signals elevated energy prices and potential inflationary pressure.