First Thing: Oil prices surge as attacks on Saudi Arabia stoke supply fears

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Strike on kingdom’s east-west pipeline could affect 4% of global oil supply. Plus, report reveals British monarchy’s role in financing slave tradeDon’t already get First Thing in your inbox? Sign up hereGood morning. Oil prices have climbed above $108 a barrel after a series of drone attacks from Iraq’s territory forced Saudi Arabia to close its east-west crude pipeline. Saudi traders said the kingdom would run out of oil stocks for export if it did not reopen within days. Gas prices also climbe