Oil prices climb amid Saudi pipeline outage and supply concerns

Brent crude futures rose $1.37 to $107.05 a barrel, while U.S. West Texas Intermediate futures increased $1.53 to $102.92 a barrel on Tuesday.

Prices climbed due to supply concerns following Houthi drone and missile attacks on Saudi military airbases and a strike disrupting the kingdom's East-West pipeline.

Traders warned that Saudi Arabia could exhaust exportable oil within days if the pipeline remains offline, potentially removing 4% of global supply from the market.