CNBC - Energy

Saudi Arabia shut down East-West crude oil pipeline after multiple attacks

CNBC was one of just a handful of news organizations allowed to travel to Caracas with the U.S. secretary of energy.

The energy agency warned shrinking inventories and strained refineries could further tighten markets.

The decline snapped multi-day winning streaks for both Brent and WTI crude oil futures.

The advance raises the threat to shipping near the Bab el-Mandeb Strait, a waterway that connects the Red Sea to the Gulf of Aden to global markets.