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Oil prices moved little as traders assessed the risk from a Saudi pipeline closure. A pipeline, in plain terms, is the physical network that carries crude from production fields to ports and refineries.
Shut one down and the oil it was moving cannot reach buyers until the route is restored.
Saudi Arabia and Yemen's Houthi movement exchanged fresh attacks across their border, raising fears that a widening Middle East conflict could push supply disruptions further.
The Houthis are a Yemen-based armed group that has been at war with Saudi Arabia and its coalition partners for years. The latest round saw both sides trade strikes across their shared border.
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