Oil prices climbed on Monday as supply concerns intensified following attacks that shut a key Saudi pipeline and Houthi militants in Yemen tightened their grip on the Bab al-Mandeb Strait. The East-West Pipeline, which carries crude from the kingdom's eastern fields to the Red Sea port of Yanbu, was halted after drone strikes claimed by Yemen's Houthi movement. The closure threatens to disrupt a major export route for Saudi Aramco, the world's largest oil exporter.

Meanwhile, Houthi forces have escalated attacks on shipping in the Bab al-Mandeb, a critical chokepoint connecting the Red Sea to the Gulf of Aden. The dual threat to land and sea routes has raised fears of sustained supply constraints. Brent crude futures rose above $71 a barrel, while West Texas Intermediate climbed past $67. Analysts warn that prolonged disruption could tighten global markets further, especially if tensions escalate in the region.

Saudi officials have not provided a timeline for the pipeline's restart.