Oil prices continued rising Tuesday after Iran-backed Houthi forces launched fresh attacks on Saudi Arabia.

Brent crude climbed above $107 per barrel as investors grew increasingly concerned about disruptions to global oil supplies.

The attacks came after Saudi Arabia’s East-West Pipeline was shut down following an earlier strike, limiting the kingdom’s ability to move oil to the Red Sea.

The pipeline disruption could threaten a significant portion of global oil supplies if repairs take several weeks, CNBC has reported.

Growing tensions around Saudi Arabia, the Red Sea and the Strait of Hormuz are increasing fears that prolonged supply disruptions could push oil prices even higher.