Pakistan, Sept. 14 -- Crude oil prices climbed above $107 a barrel on Monday as fresh attacks raised fears over global supplies. The rise followed the shutdown of Saudi Arabia's key East-West oil pipeline. Brent crude gained $2.90, or 2.77%, to reach $107.51 a barrel. Meanwhile, West Texas Intermediate futures rose $2.27, or 2.27%, to $102.32.

Read More: Saudi pipeline outage threatens 4% of global oil supply

The Saudi pipeline was shut after a drone strike reportedly originated in Iraq on Friday. The pipeline allows Saudi Arabia to transport oil without relying on the Strait of Hormuz. Its closure could affect up to 4% of global oil supplies. Therefore, traders are closely watching efforts to restore the pipeline and ease regional tens...