Hormuz Strait Attack Raises Energy Supply Fears Amid Escalating Gulf Conflict
A new attack on a vessel in the Strait of Hormuz has heightened concerns over Iran-linked threats to energy supplies, following Saudi Arabia's shutdown of a vital oil pipeline.
The UK Maritime Trade Operations reported that a vessel was struck by a projectile while transiting the strait, but the extent of the damage and the condition of the crew remained unclear as of early Sunday.
The attack comes a day after Saudi Arabia announced the temporary shutdown of its East-West oil pipeline due to a drone attack that Baghdad and Riyadh said originated from Iraq. The pipeline carries between 4 million and 5 million barrels of oil per day, equivalent to 4% to 5% of global supplies.
US President Donald Trump said Iran was likely responsible for the attack, which has pushed energy prices higher after a week in which Brent crude rose above $100 a barrel. The pipeline shutdown has shielded Saudi Arabia from disruptions that have hindered oil and gas exports from other Gulf states.