Drone Attacks Shut Down Key Saudi Oil Pipeline

Saudi Arabia's East-West pipeline has been shut down after drone attacks damaged it, raising concerns about global energy supplies.

The pipeline, which carried around 4 million barrels of crude per day from eastern Saudi Arabia to the Red Sea port of Yanbu, was closed as a precaution while crews assess the damage. This move is on top of already restricted traffic through the Strait of Hormuz due to the ongoing war with Iran.

The pipeline's outage has added pressure to oil prices, with Brent crude climbing above $100 a barrel as traders weigh how long it could remain offline. Saudi oil production has fallen significantly since the conflict began, and supplies stored near Yanbu may only be enough to maintain exports for several more days.