Commodities
Drone Attack on Saudi Pipeline Sparks Energy Price Jitters
A drone attack on Saudi Arabia's East-West pipeline has caused concern over rising global energy prices. The pipeline, which transports around 4% to 5% of the world's oil supply, was shut down as a safety precaution after the incident.
The attack is believed to have originated from Iraqi territories controlled by Iranian-backed militias. U.S. President Trump has indicated Iran's probable involvement in the incident.
The closure of the pipeline highlights the volatility in the Middle East region and raises concerns about potential future spikes in oil prices.