STOCKS | Asian Energy Shares May Rise as Saudi Pipeline Shutdown Lifts Oil

Asian energy shares may rise after Saudi Arabia shut a major crude pipeline following an attack, disrupting a route that bypasses the Strait of Hormuz. According to Sina Finance, Brent crude opened up as much as 3.6% and briefly topped $108 per barrel. Saudi Arabia said late Friday that it had suspended operations on the east-west pipeline as a precaution after it was attacked the previous day, but did not say when operations would resume. Oman's foreign minister also said a meeting originally planned between Iran and Gulf states on opening a shipping lane through the Strait of Hormuz had been postponed.