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Saudi East-West Pipeline resumes crude oil exports
Saudi Arabia's East-West Pipeline has resumed crude oil exports. The pipeline was previously shut down due to Houthi attacks, which caused Brent crude oil prices to surge and forced Saudi Arabia to rely on high-cost oil transportation through the Strait of Hormuz. This move may ease market concerns about Middle Eastern crude oil supply.
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Next: US stocks declined before the bell on Monday as fading hopes for a breakthrough in the Middle East and rising inflation worries pushed oil prices higher.
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