Oil extended gains Tuesday, amid reports of fresh Houthi strikes on Saudi Arabia and attacks by Iran on ships in the Gulf. Futures for international benchmark Brent crude for November delivery gained 1.25% to $107.00 a barrel. U.S. West Texas Intermediate futures for October advanced 1.27% at $102.68 per barrel. Saudi Arabia closed its critical East-West pipeline that bypasses the Strait of Hormuz, after drones launched from Iraq damaged it, exacerbating oil supply disruptions at a time when the market is already tight. Al Jazeera reported that the Saudi-led coalition in Yemen says 13 civilians were injured on Monday, after Houthi forces launched a wave of ballistic missile and drone attacks into Saudi Arabia.
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